Fred Wilson on the death of Geocities
Fred Wilson talks about his 100x return on investment from Geocities. He goes into quite a bit of detail on how the deal was structured and what happened. My favorite quote is at the end:
I learned a lot from that deal. I learned that the Internet is all
about people expressing themselves on pages they own and control. I
learned that a business deal made over dinner and a handshake can turn
into hundreds of millions of dollars, I learned that good partners are
worth every penny of returns you give up to get them, and I learned
that selling too soon is not too painful as long as you don't sell too
much. And most of all I learned that you can make 100 times your
investment every once in a while. And when you do, it's something
special. (emphasis mine)
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