A VC - Latest Comments in The Foursquare "Crush"

Re: The Foursquare "Crush"

Joe Siewert — Mon, 30 Nov 2009 15:01:24 -0000

So true about KOL. I've seen them a handful of times over the years. Their arena shows are still good, but definitely a different sound and vibe than the smaller club shows I saw. I suppose that's true for many bands.

Re: The Foursquare "Crush"

Dave Pinsen — Sun, 13 Sep 2009 14:43:35 -0000

Great concert, btw, Fred. I see what you mean about "up & down", but as long as you stay on one level, as we did, that didn't seem to be much of an issue. The bigger issue was one similar to other SRO venues -- the lack of stadium 'standing', so folks have to jockey for position to get a view of the stage.

Incidentally, when we got there there was a poster announcing another Cult concert on November 10th on the mainland in Montclair, NJ. You ought to consider that one. If you haven't been to Montclair it's got some impressive restaurants. I haven't been to the concert venue there though.

As for the music, I highly recommend you try to find live versions of the band's older stuff. The album they're playing in its entirety on this tour, Love, was recorded in '85 without the best production standards.

Re: The Foursquare "Crush"

Aristotle — Wed, 09 Sep 2009 11:45:20 -0000

Don't let it get to you Fred (easier said than done i know). In my opinion before someone can be a great entrepreneur they first have to be a great person. One of the hardest things in life is accepting the truth and reality for what it is rather than what you want it to be, and the fact that other people have different perspectives on that reality. It's far easier to rationalize things and make excuses. While this is important to be a happy, self fulfilled person, its absolutely essential to being an entrepreneur. Any entrepreneur that doesn't get that isn't worth backing in the first place.

Re: The Foursquare "Crush"

fredwilson — Tue, 08 Sep 2009 20:43:16 -0000

Not sure what they'll do with 'its too up and down'. But I might tell them anyway

Re: The Foursquare "Crush"

fredwilson — Tue, 08 Sep 2009 20:34:14 -0000

Thanks for the props aristotle. I appreciate them. Particularly since an entrepreneur cursed me out and hung up on me today

Re: The Foursquare "Crush"

Dave Pinsen — Tue, 08 Sep 2009 18:54:34 -0000

I see Terminal Five has a Foursquare page -- you can leave feedback there.

Re: The Foursquare "Crush"

Aristotle — Tue, 08 Sep 2009 16:08:41 -0000

Fred, your approach here (and to early stage investing in general) just solidified my opinion of you as the best early stage venture investor there is. The fact that foursquare decided to go with you compared to their many, many other options is a testament to their good judgement and decision making.

For all the entrepreneurs that are reading this, ask yourselves. How many of the so called venture investors you know think for themselves to the degree Fred does and share that thought process with everyone so openly? How many value originality of thought as demonstrated by using actually web services and an openness to trying new things, and not just new web services.

I'll try to explain it using a simple example that really drives the point home for me. How many other investors spend time responding and engaging with the commenters on their blog to the degree Fred does? That is, how many investors see their blog truly as a means of connecting and engaging with the people in the startup community, respecting and valuing everyone for their thoughts and opinions, instead of just a marketing vehicle disguised as a blog meant to show off how smart they are and keep their name in the public forum.

I love the idea of startups using checkins or usage as a filter. Here's another one: check to see if the vc has a blog. If they do, check to see what they write about. Is it articles written through a megaphone instructing you on how to do things, or thoughtful posts meant to encourage discussion. Do they actively respond to commenters, or is the focus only on blaring their own message and then forgetting about the post once the marketing blast has fulfilled its purpose?

Re: The Foursquare "Crush"

fredwilson — Mon, 07 Sep 2009 13:39:05 -0000

Its very up and down. You'll see what I mean when you are there

Re: The Foursquare "Crush"

Dave Pinsen — Sun, 06 Sep 2009 23:13:18 -0000

No problem. I've never been to Terminal Five before, but it looks really convenient for those of us
B&T folks driving in from the mainland.

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 15:56:20 -0000

Thanks for that tip. I really don't live terminal five but I might make an exception

Re: The Foursquare "Crush"

daryn — Sun, 06 Sep 2009 15:34:34 -0000

Congrats! foursquare is the first location based app that really feels "right" to me, and dens, naveen, and harry are the team who can make it work. looking forward to the new version.

Re: The Foursquare "Crush"

Dave Pinsen — Sun, 06 Sep 2009 14:07:57 -0000

They're also playing in Manhattan next Friday, at Terminal Five, if you want to see them live. I just got tickets yesterday. Their music is usually even better live.

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:37:04 -0000

I never was very good at hiding

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:36:07 -0000

Thanks Jerry.

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:34:04 -0000

Nope. I gotta do that. I'll add them to my songkick tracking list

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:33:07 -0000

More likely rabid swfc fans singing football cheers

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:29:02 -0000

We light lightweight web services that don't try to be too much or do too much right out of the gate. That's why we like foursquare

Re: The Foursquare "Crush"

fredwilson — Sun, 06 Sep 2009 12:28:02 -0000

That's really great to hear that you see a link between brad's first principals post and our foursquare investment. That's how it is supposed to work!

Re: The Foursquare "Crush"

im2b_dl — Sun, 06 Sep 2009 09:44:40 -0000

Fred I think the reasons for the crush are the same reasons it is prime for interactive tv show platform

Re: The Foursquare "Crush"

markslater — Sun, 06 Sep 2009 07:37:39 -0000

top notch fred - it was obvious what you were up to, looks like your approach paid off - best of luck

Re: The Foursquare "Crush"

jerrycolonna — Sun, 06 Sep 2009 07:16:38 -0000

I'm late to the party here and so many people have made good points on both sides of the "discussion." But in the end I have to agree completely with your "strategy" regardless of whether it was deliberate or not. Being open makes the entire process company/entrepreneur focused and the only downsides (increased competition, potentially higher price) are entirely short-term. It's not instinctive, of course. The first instinct is to "protect" your "discovery" as if it were a gold mining claim or something. But among the many, many upsides to being this transparent is that it encourages the participation by additional investors. And being dominated by any one investor group--even folks as great as USV or Foundry--is not in the long term best interest of the company. Congrats on winning the deal but more important congrats on being real and authentic.

Re: The Foursquare "Crush"

Dave Pinsen — Sun, 06 Sep 2009 03:18:51 -0000

The Cult is back together and still rocks. Have you ever seen them live? They played not too far from your office (at Irving Plaza) last time they were in town.

Re: The Foursquare "Crush"

jayfallon — Sun, 06 Sep 2009 01:48:04 -0000

I think that until the Arctic Monkeys decide to hire bikers to do their security, the world is safe.

Re: The Foursquare "Crush"

howardlindzon — Sun, 06 Sep 2009 01:06:59 -0000

i dont use the service and dont know why i would yet but totally agree with your strategy on this always being open. congrats.

i do understnad nwy other vc's are closed though.

that just makes being open more lucrative for you thoughgh.

Re: The Foursquare "Crush"

r2d2 — Sun, 06 Sep 2009 00:37:27 -0000

Just curious about your reasoning, why did you decide to use and invest in Foursquare instead of any other startup in the same field, such as Loopt, Brightkite, etc.

Have you even used Loopt or thought about investing in them?