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April 4, 2011 07:20 am GMT
(Editor's note: This is the third installment in a series about the late stage, secondary investing craze sweeping the venture capital business. For the first two installments go here and here.)On May 26, 2009 Mike sat down with Yuri Milner, Mark Zuckerberg and a Flipcam to talk about the then-scandalous $200 million investment DST made in Facebook, at a price that valued the company at about $10 billion. The camera-work is Blair-Witch-Project-like at best. You can barely hear the audio, and Zuckerberg can't for the life of him figure out whether to look at the camera or Mike. It doesn't really matter because, just after he asks, Mike proceeds to cut off half his face anyway.But shoddy production aside, this may have been one of the most pivotal moments TechCrunch has ever captured on camera.We didn't know it at the time, but this was something more than an unexpected investment by an unheard of investor in a seemingly overhyped social network. It was a moment we'd been waiting for for more than a decade. Something we'd been obsessing about. It was the moment when a Web startup fundamentally broke all the normal rules of gravity that govern all Web startups. It was the moment that would eventually spawn a new, unchartered frenzy of late stage dealmaking. In my opinion, it was nothing short of the Web 2.0 generation's answer to "the Netscape moment."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/mrwdfmYcTQU/
How We All Missed Web 2.0"s "Netscape Moment"
(Editor's note: This is the third installment in a series about the late stage, secondary investing craze sweeping the venture capital business. For the first two installments go here and here.)On May 26, 2009 Mike sat down with Yuri Milner, Mark Zuckerberg and a Flipcam to talk about the then-scandalous $200 million investment DST made in Facebook, at a price that valued the company at about $10 billion. The camera-work is Blair-Witch-Project-like at best. You can barely hear the audio, and Zuckerberg can't for the life of him figure out whether to look at the camera or Mike. It doesn't really matter because, just after he asks, Mike proceeds to cut off half his face anyway.But shoddy production aside, this may have been one of the most pivotal moments TechCrunch has ever captured on camera.We didn't know it at the time, but this was something more than an unexpected investment by an unheard of investor in a seemingly overhyped social network. It was a moment we'd been waiting for for more than a decade. Something we'd been obsessing about. It was the moment when a Web startup fundamentally broke all the normal rules of gravity that govern all Web startups. It was the moment that would eventually spawn a new, unchartered frenzy of late stage dealmaking. In my opinion, it was nothing short of the Web 2.0 generation's answer to "the Netscape moment."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/mrwdfmYcTQU/
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