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The Bright Side of a Bad Pitch

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This story appears in the November 2015 issue of Entrepreneur. Subscribe »

Like people in any business, we in the VC world love to exchange horror stories. Ours tend to focus on absurd pitches: perpetual-motion machines, kitten sweaters and everything in between. Our cumulative experiences would rival the gag reel on Shark Tank.

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Despite this, we do our best to educate -- not humiliate -- founders. It’s our job. People invest millions with VC firms so that we’ll go out and find the next Facebook or Uber. That means taking meetings -- lots of them. Conversations with entrepreneurs are the lifeblood of our business. We spend most of our time listening to far-fetched pitches, but doing so makes us better. That’s because venture capital is a numbers game, and reviewing as many ideas as possible, including the bad ones, helps us identify the ones that just may strike gold.

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