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20Angel: Paul Forster: Co-Founder of Indeed.com on Building a $7bn Revenue Business, Why Founders Are The Best Angels, Why he Said no to a Deal Led by Sequoia & Why he Passed on a $2.5bn Company at Seed
20Angel
Reflecting on Past Investment Decisions and Evaluating the Team
In this chapter, they discuss companies that they have said no to and reflect on whether they should have invested in them. One example is Thought Machine, a company that sells core banking infrastructure to major banks. They initially didn't invest because they thought it would be difficult to convince incumbent banks to buy third-party software. However, Thought Machine has been successful, teaching them the lesson that they shouldn't be too rigid in their investment thesis. They also mention the challenge of projecting their own experiences onto young teams and the importance of evaluating the team when making investment decisions.
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