Like many people I couldn’t help but watch the CNBC interview with the Winklevoss twins where I was surprised to learn that they were becoming venture capitalists. I always figured they would simply take the Facebook settlement money and run — probably to never be seen or heard from again. But no, that is not going to be the case at all. In fact, they are looking to use that settlement money to invest in early stage technology companies.
By now I have read (and I’m sure you have too) quite a few articles poking fun at this reality. While I was surprised by the twins VC plans, I was even more surprised that so many tech-focused blogs are being so quick to dismiss the Winklevii.
I agree the interview was pretty terrible, but I put most of that blame on the anchors who were conducting the interview — I mean, asking for autographs? Seriously? Anyway, regardless of whether or not they invented Facebook, they are now willing to use that settlement money to fund companies that need it to build businesses. I honestly do not see how that is funny. They could have easily taken the money and disappeared, but they’re not. And to me that means they must have a true interest in technology and business.
Let’s make a quick checklist of things the Winklevii would need as legitimate VC’s:
A stockpile of money. Check.
Interest and knowledge of tech / business. Check and check.
Don’t forget they went to Harvard and were in the Olympics, too. Those two things have to count for something.
I just do not see startup founders in need of money dismissing the Winklevii as a serious option for funding. And why should they? There is no reason to not at least consider it.
Will the Winklevii succeed? Who knows — and that is the beauty of it all.
Watch the full interview here.