I thought it was cool, too, though.
Besides showing a fantastic human side of their firm, a post like this should be raw encouragement to entrepreneurs who, despite their bottomless well of optimism, once in a while get "no" fatigue.
Not saying that I would have made the right call on eBay, but I've learned to override myself whenever my gut reaction about a startup idea is a no-brainer either + or -. That kind of strong reaction often calls for a contrarian second opinion.
Cowan’s college friend rented her garage to Sergey and Larry for their first year. In 1999 and 2000 she tried to introduce Cowan to “these two really smart Stanford students writing a search engine”. Students? A new search engine? In the most important moment ever for Bessemer’s anti-portfolio, Cowan asked her, “How can I get out of this house without going anywhere near your garage?”
Not saying that I'd be a shinning beacon since I would have turned down Twitter and Zynga.
All the top vc's have their bad deals or deals they missed. Cowan is just very transparent about it.