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July 21, 2006

What All VCs Share

In my PE Week column a while back I said that there no best practises in venture capital. A long-time industry veteran emailed agreement, but said that the best VCs do share two characteristics:

1. A good gut
2. A teflon coating to keep them from getting jaded. The best VCs still fall in love with new deals, even after having had their hearts broken many times

I couldn't agree more. You have to have the gut, and you have to avoid the oft-inevitable creeping cynicism. The best VCs never lose that child-like fascination with new and highly perishable things.

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