Gurley admits pattern recognition decays; anti-small-business bias from Intuit caused VCs to miss HubSpot, Shopify, Twilio.
“And so you develop this anti small business mindset, which keeps you out of HubSpot and Shopify and Twilio.”
Gurley argues venture capital patterns decay, citing how Intuit bias caused VCs to miss Shopify.
“I think the patterns have a half life and they decay. Or I saw Toby from Shopify was talking about the VCs passing on them.”
Gurley admits pattern recognition led VCs to miss HubSpot, Shopify, and Twilio due to anti-small-business bias from Intuit precedent.
“And so you develop this anti small business mindset, which keeps you out of HubSpot and Shopify and Twilio. Then miss massive amounts.”
Gurley cites Brett Taylor as example of founder who repots himself across technology waves from maps to social to AI.
“He's just always right there as the thing changes and on top of the next thing.”