Doriot Quote Of The Day

"some of our friends began to say "Oh, Lord, not another longhair project. Why doesn’t ARD back something commercial and make some money? We learned our lesson. Now we realize that our best things are longhair".

Merrill Griswold, a Director of ARD, as said to a Fortune reporter

Although Doriot didn’t say this, I had to include this in the daily quotes from the book. This is one of my all time favorite quotes about venture capital.

#VC & Technology

Comments (Archived):

  1. Michael

    What would you say is a longhair project now?

    1. fredwilson

      Pretty much everything in our portfolio, but I’d put Bug Labs up there inthe ┬│really longhair┬▓ category

  2. nikpay

    Not all of the investors are that much savvy to understand the importance of longhair projects. Startups would love to focus on the products first for sometime. There could be huge ROI on this approach if managed well.