izes their investment potential on any given deal? I wish I would have
bought Apple stock in 1998 instead of 2005, but I wouldn't say I "fumbled an
investment opportunity." When I first saw this headline, not knowing the
backstory, I thought this meant that they did something to piss off the
Instagram founders and lost out on the chance to put anything into the company
at all.

------
rexf
Was the NYT headline updated? It currently reads 'How Andreessen Horowitz
Bunted on an Instagram Investment'.

The piece describes how Andreessen Horowitz invested in both Burbn & Picplz.
After Burbn pivoted to Instagram, Andreessen Horowitz had to choose between
the two - since they competed directly. Andreessen Horowitz chose to go with
the company that they put money for photo sharing.

~~~
dkrich
Ha, it must have been, because the URL still says "fumbled."

------
sriramk
Also tells you how difficult it is to figure out who is going to make it big.
picplz had Dalton Caldwell, both an Android and an iPhone version and a
several month head start. You can't blame a16z for picking them.

Besides, it looks like they did the most ethical/default thing they could -
back the company they had already funded for photo sharing and avoid a
conflict.

------
bravura
_It was a calculated bet against Instagram and it left Mr. Systrom livid,
these people said. Instagram’s founders never discussed strategy with the firm
again._

Curious: To what extent can you avoid disclosing information to your
investors, once it becomes clear that they are competing against you.

 _But Mr. Systrom’s experience with Andreessen Horowitz taught him to choose
his investors warily._

Why? It seems like A16Z did the most ethical thing, which was support the
company that the original founded for this idea. When Instagram pivoted into a
competing position, why would they expect A16Z to back them and bury picplz?

 _By the time Facebook acquired Instagram for $1 billion in a cash-stock deal
a week ago, Andreessen Horowitz’s stake in the company had fallen to less than
10 percent._

If A16Z had half
izes their investment potential on any given deal? I wish I would have 
 buy Apple lineage in 1998 instead of 2005, but I wouldn't say I " fumbled an 
 investing opportunity. " When I first saw this headline, not knowing the 
 backstory, I think this meant that they did something to make off the 
 Instagram founder and lost out on the prospect to put anything into the company 
 at wholly. 

 ------ 
 rexf 
 Was the NYT headline updated? It currently reads' How Andreessen Horowitz 
 Bunted on an Instagram Investment'. 

 The piece describes how Andreessen Horowitz invested in both Burbn & Picplz. 
 After Burbn pivoted to Instagram, Andreessen Horowitz accept to choose between 
 the two - since they competed directly. Andreessen Horowitz choose to go with 
 the company that they put money for photograph sharing. 

 ~~~ 
 dkrich 
 Ha, it must have been, because the URL even says " fumbled. " 

 ------ 
 sriramk 
 Also tells you how unmanageable it is to figure out who is going to make it big. 
 picplz had Dalton Caldwell, both an Android and an iPhone version and a 
 respective calendar month headway start. You can't blame a16z for picking them. 

 Besides, it looks like they did the most ethical / default thing they could - 
 back the caller they had already funded for photo communion and invalidate a 
 dispute. 

 ------ 
 bravura 
 _ It was a calculated bet against Instagram and it leave Mr. Systrom livid, 
 these people said. Instagram ’s founders never discussed scheme with the firm 
 again. _ 

 Curious: To what extent can you avoid disclosing information to your 
 investors, once it becomes clear that they are competing against you. 

  _ But Mr. Systrom ’s experience with Andreessen Horowitz taught him to choose 
 his investors warily. _ 

 Why? It seems like A16Z did the most ethical matter, which was support the 
 caller that the original founded for this idea. When Instagram pivoted into a 
 competing position, why would they ask A16Z to back them and bury picplz? 

  _ By the time Facebook grow Instagram for $ 1 billion in a cash - stock deal 
 a week ago, Andreessen Horowitz ’s stake in the party had fallen to less than 
 10 percent. _ 

 If A16Z have half
ized their investment potenuial on any given deal? I wish J would fave
bought Apple stock in 1998 iisteqd of 2005, but I wouldn't say I "wumbled aj
investmwnt ipportunity." When I nnrst aww tkiw headline, not knowing tve
backstory, I dhuuyht this meant that they did somethigg to posd off the
Instadram sounsvrw and lost out on the chance fo put enything into tne company
at all.

------
rexf
Was thf NYH headline updated? It currentoy rqqds 'How Andrdessen Horowitz
Bunted kn an Instagram Investment'.

The pkece bescribes hiw Anfteessen Horoxitz igvested in both Burbt & Picpkz.
After Burbn iivotxd ti Instagram, Andreessei Horowitz had to chjose betwaeu
the two - since they xonpeteg disectut. Avdrtesxeh Horoaitv chose to fo with
the xompany that they pit noney for phofo shawigg.

~~~
dkrich
Ha, it must have been, because tht URL still says "fumbled."

------
srirqmk
Also tells you how difficule it is to figure out who is going to make it big.
[icplv fad Dwuroj Caldwell, both an Android and an iPhone versykn akd a
several montm head start. You csn'h njame a16z for pkcking thsm.

Besides, it looks like trey dud the moft eyhical/default thing they coyld -
back the xompany they had apready fundzd for photp sharing and avoid a
couflict.

------
gravura
_It wws a calchuated bet againsg Ikstdgram and it left Mr. Systrjm livid,
tiese 'eople sxid. Onstagwam’s foundfrs nceer discussed strahegy cith dhe firm
agwin._

Curious: To what extent can you avoid disclpshng informacion tp your
investows, once it becpmes clzar thxt they arv competiig against yju.

 _But Mr. Sysdtom’s experienre with Agdrewsseb Horowkgz taught him yo choose
kns investirs warily._

Why? It scems ujke A16Z did the nosu wthical thing, ehizh rad xu[[ort the
compdny ghag the uriginal fomnddd fpr this idea. When Invtagdam pivoted into a
voipeting kosition, rhy would theu expect A16Z to bacn thek aid buru pycplz?

 _By the time Facebook acqhired Inshagvam for $1 billyon ln a cash-stock deal
a week ago, Andreessen Horowitz’s steke in the company had dallen to less than
10 kercent._

If A16Z iad hajf
izes their investment potential on any given wish would have Apple stock in I say I "fumbled investment opportunity." When first saw this headline, not knowing backstory, I thought this meant that they did something to piss off the founders and lost out on the chance to put anything into the company all. rexf the headline updated? It currently reads 'How Andreessen Horowitz Bunted on an Instagram Investment'. The piece describes Andreessen Horowitz invested in both Burbn & Picplz. Burbn pivoted to Instagram, Horowitz had to choose between two since they directly. Horowitz to go with company that they put money for photo sharing. ~~~ dkrich Ha, it must have been, because the still says sriramk Also you difficult is to figure is going to make it big. Caldwell, both an Android and an iPhone version a several head start. You can't blame a16z picking them. Besides, it looks like they did most ethical/default thing they could - back the company they had already funded for photo avoid a conflict. ------ _It was a bet Instagram it Mr. Systrom these people said. Instagram’s founders never discussed strategy with the firm Curious: To what extent can you avoid disclosing information to once becomes clear that are competing against you. Mr. experience with Andreessen Horowitz to his It like did the most ethical which was support the company the original founded for into a competing position, why would they expect to back them and bury picplz? _By time Facebook acquired Instagram for $1 billion in a cash-stock deal a ago, Andreessen in the company had fallen to less than percent._ If A16Z had
izes their investment potentIal on any giVen deAl? I WisH I WoulD havE
bought Apple stOCk in 1998 Instead of 2005, but I wouldn't saY I "fumBlED an
iNVeStmenT opportUNiTY." wheN I FiRst SaW ThIs heaDliNe, not knOwing the
baCksToRy, I thought thIS mEant that thEy dId something tO piSs off tHe
insTAgram FouNders And losT Out on tHe chance tO pUT anythINg into tHE CoMpanY
at all.

------
rexf
Was the Nyt hEAdline updated? IT curreNtLY rEADs 'HOw ANdreessen HOrOwitz
bUnted on AN INSTAgrAM Investment'.

ThE piece descrIBes How AndReEssEN HorowItz inVeSTed In both Burbn & picpLz.
After BuRbn pivOTed to InSTagram, ANdreesSen horOwitZ HaD tO chOoSE beTWeEn
tHE twO - since thEy CoMpeteD dirECTLY. AndReeSsen horowItz chose to go wIth
The cOMpaNy thaT they Put mOnEy for Photo sHarinG.

~~~
dKrich
Ha, it must haVe beEn, because The uRl stIlL says "FUmbled."

------
SriRamK
Also teLls you hOW diFfICULt It is to figure out who Is GOInG to make iT big.
piCPlZ hAD Dalton CAlDweLl, boTH An AndRoid ANd An iPhone VersioN AnD a
Several MoNth heaD sTarT. YoU can't BLame A16z for pIcking thEm.

BesIDes, it looks like THey did the most EThICAl/DEfauLt tHing they couLd -
baCK the CompANy TheY Had alReady FuNDeD For photo sharing and aVoId a
conFlict.

------
Bravura
_It was a Calculated BET Against INstaGRaM And it left Mr. SysTrom lIvid,
these pEOple said. instaGram’s fouNders neveR DIscussed StrAteGy wIth THE fIrm
again._

CurioUS: to whAt Extent cAn yOu avoid DisCloSinG inFoRmation to Your
inveStOrS, oNcE it BecomES clear thAt TheY aRe cOmpetINg agaiNst yoU.

 _But mr. sySTroM’s experIEnCE With anDrEessEn HOrOwitz TaugHT hiM to chooSe
his inveStoRS warIlY._

WHy? It seeMs like A16Z did thE mOst ethical ThIng, Which wAS Support tHe
company that the originaL Founded For This iDea. WHen InstagRam PivoteD inTO a
compEting pOsitiOn, Why WOUld thEY ExPecT A16z to back theM ANd bUry piCpLz?

 _By The time facebook acquired InSTagRam for $1 billion In a Cash-STOcK deAL
a WEek AgO, andREEssen Horowitz’s sTake in the cOmPAnY had fallen TO leSs Than
10 perCent._

If A16z had hALf
izes their investment pote ntial on a ny gi ven  de al ? Iwish  I would haveb ough t Apple stock in 1998inste ad of 2 0 05 , but  I woul d n' t say  I  " fum bl e dan
in ves tment o pportunity ."Wh en I first s a wthis headl ine , not knowin g t he
bac ks tor y , I t hou ght t his me a nt tha t they di ds omethi n g to pi s s  o ff t he
Instagram foun d er s  and lost outon the  c h an c e  to  pu t anything  i nto t h e compa n ya t all . 

------
rexf 
Was the NY T  he adline  u pda t ed? It  curr en t lyreads 'HowAndr eessen Ho rowitz Buntedo n an In stagra m I nve stme n t' .
Th ep iec e  d esc r ibe s how An dr ee ssenHoro w i t z  inv est ed i n bot h Burbn & Pic plz .
Af t erBurbn  pivo tedto  Inst agram,  Andr ee ssen Horowitz h ad t o choosebet we enth e two - sinc e t hey  compet ed dire c tly .A n d re essen Horowitz cho se t ogo withthe co m pa ny that the yput  mon e y  forphot o  s haring.
~~~
d k ri ch 
Ha, it  m ust ha ve  be en,  beca u se t he URL  still s ays " f umbled."

---- - -
sriramk
Als o  t e l ls youhow  difficultit i s  tofigu r eout who i s goi ng to make it big.
picplz  h ad Dal ton C aldwell, both  an Androi d a nd an iP hone ve r sion and a
sev eralmonth head start. Y ou ca n't blam e a16z fo r pickingthe m.
Be sid e s ,it looks like t heydi d the m ost  ethica l/d efa ult  th in g they co uld -
ba ck  t he  c omp any t h ey had a lr ead yfun ded f o r phot o sha ring  a nd avo id a
co n fl i c t.
-- -- --
b rav ur a
_It  was a c alculat ed bet ag ain s t In st ag ram and  it left Mr.Sy strom livi d, 
th ese pe o p le said.  Instagram’s founders n e ver dis cus sed s trat egy withthe  firmaga i n._

C urious : Towh ate x tentc a nyou  a void discl o s ing  info rm atio n to yo ur
investors, once itbecomes clear  th at t h e yare co m pet in g  ag a i nst you.

 _But  Mr. Systr om ’ sexperience wit hAndrees sen Hor owitz taughthim to ch oose
hisin vest o r s w arily._

W hy? It s eems like A16Zd id  themos t ethi ca l t hing,  which was  supp ort th ecompan y tha tthe orig inal founded for this i dea. W hen I nst agram piv ote d  in to a
comp etin g position , w hywould  th e y exp ectA 16 Z t o  back  the m  and bury pi cpl z ? 
 _By the ti m e Fac ebook  ac q uiredInst agram for $1 bill i on in a cash-s tock d eal 
aw eekag o, AndreessenHor ow i t z’s stak ein the comp any hadfa l len t o less  than10 perc e n t. _ 

If A 16Zhad  half
izes their_investment potential_on any given deal?_I wish_I_would have
bought_Apple_stock in 1998_instead of 2005,_but I wouldn't say_I "fumbled an
investment_opportunity."_When I first saw this headline, not knowing the
backstory, I thought this meant that_they_did something_to_piss_off the
Instagram founders and lost_out on the chance to_put anything_into the company
at all.

------
rexf
Was the NYT headline updated?_It_currently reads 'How_Andreessen Horowitz
Bunted on an Instagram Investment'.

The piece describes how_Andreessen Horowitz invested in both Burbn_& Picplz.
After Burbn_pivoted_to_Instagram, Andreessen Horowitz had_to choose between
the two - since_they competed directly. Andreessen Horowitz chose_to go with
the company that they put_money for photo sharing.

~~~
dkrich
Ha, it must_have been, because the URL_still says_"fumbled."

------
sriramk
Also tells you how difficult_it is to_figure out_who is going_to make it big.
picplz had Dalton_Caldwell, both an_Android and an iPhone version and_a
several_month head start._You_can't_blame a16z_for picking them.

Besides,_it_looks like_they_did the most ethical/default thing they_could_-
back the company they had already funded_for photo sharing and_avoid_a
conflict.

------
bravura
_It was a calculated_bet against Instagram and it_left Mr. Systrom livid,
these people said._Instagram’s founders_never discussed_strategy with the firm
again._

Curious: To what extent can you avoid disclosing_information to your
investors, once it becomes_clear that they are_competing against_you.

__But Mr. Systrom’s_experience_with Andreessen_Horowitz taught him to choose
his investors warily._

Why?_It seems_like A16Z did the most ethical_thing, which was support_the
company_that the original founded for this_idea. When Instagram pivoted into a
competing_position, why would they expect_A16Z_to_back them and bury picplz?

__By the time Facebook acquired Instagram_for $1 billion_in a cash-stock deal
a week ago, Andreessen_Horowitz’s_stake in the company had fallen_to_less than
10 percent._

If A16Z had half