No Red Lights Quotes

“It’s tough enough to sell a product or service to someone who has an immediate need. Selling a future need usually causes the early pioneers to get a lot of arrows shot at them. The battlefield of business is filled with the dead bodies of first movers.”
― Alan J. Patricof, No Red Lights: Reflections on Life, 50 Years in Venture Capital, and Never Driving Alone

“This applies as well when opportunities come to merge an existing portfolio company with another private company. Entrepreneurs and investors can get carried away when a private firm offers shares in its company to acquire yours. There’s a momentary feeling of exultation if the pricing seems on the face of it to represent a good exchange. But the fact is that no one really knows what one private company is worth versus another private company. This is another example of a “my cat for your dog” transaction. Selling to a public company whose price is established through daily trading offers a more objective exchange of value.”
― Alan J. Patricof, No Red Lights: Reflections on Life, 50 Years in Venture Capital, and Never Driving Alone