Friday, October 01, 2004

Bnoopy: Persistence Pays.

Joe Kraus, one of the founders of Excite starts his blog on Entre. He tells a great story about Vinod Khosla.

Bnoopy: Persistence Pays. Part 1:

"The meetings we're all the same. We showed them our search technology, showed them 'concept-based' search, and showed them targeted advertising. To a firm, the first question they asked was a very reasonable one: 'great stuff guys, but what's your business plan? how are you going to make money?' Of course, being 22 years old and fresh out of college we replied, 'we thought you could help us out with that.' Apparently, that's the wrong answer. Who knew?

Rinse, lather, repeat.

Then we met Vinod...

By then, our deal had developed a certain 'smell' -- smart guys with interesting technology but an uncertain business plan. The demo to Vinod started off like they all did, but about 10 minutes into the meeting things got very different. He interrupted

'Can the technology scale? can you search a large database?'

Big Pause. It's not the money question. No one has ever asked us this before. Ummm.

'We don't know, we can't afford a hard drive big enough to test.'

Then, an amazing thing happened. Ten minutes into this meeting, his first introduction to the company and us, he pulls out his his cell phone, dials his assistant and buys us a $10,000, 10Gb hard drive."

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