So far, the fund has made fairly early-stage investments — smaller amounts, but with a much greater risk factor. Throwing $1 million at a three-dude “company” that barely has a working product together is cheap (by Google’s standards), but the odds of success are slim, something like 18 percent for first-time entrepreneurs. Throwing $100 million at a proven winner like Instagram is a much surer bet that you, the investor, will get your money back.

Larry would rather see a smoking crater in the ground than a mediocre result.

Joe Kraus, partner,

Google Ventures

“It’s really easy to find Series A and Series B companies that are already on a path to success, then you invest in them and double down,” said Rose. ”The most exciting thing to me is when it’s just in the wireframe stage. It’s just a seed of an idea, and it’s the boldest thing you can do in investing.”

In those late-stage investments, there’s nothing to build, nothing really to grow. You toss money on an already racing horse that’s several lengths ahead, and you let momentum do its job. A few months or years later, you get a check in the mail. And where’s the fun in that? I don’t think Kraus, Rose, or anyone else on the Google Ventures team would find it to be much fun at all.

Much as I hate to call bullshit on Google Ventures because friends of mine work there, I need to ask because this article was devoid of examples.

WHAT GUTSY INVESTMENT HAS GOOGLE VENTURES EVER MADE???

I was wondering if someone here could clarify! Thank you. :)

On the other hand I know Joe Kraus has made gutsy investments in the past because he invested in me in the past.

It doesn't get any gutsier than that. ;)

Amen. Google Ventures partners take great photos! I like Joe Kraus' blog. Does that classify them as different? ;)

They do take EXTRAORDINARY pictures.

Google Ventures' mantra is that they help you with classes on design and marketing, and they help you to recruit.

I'm still waiting for anyone to come forward and say "Yup, Google Ventures has been helpful with those things."

Well, the article quotes Kevin Rose. I'm not sure if GOOG Ventures helped him find that engineer, since Milk ended up selling to Google. Wrong example?

Milk got money from Google Ventures and then Google bought Milk, and now Kevin Rose works for Google Ventures?

Gulp.

I guess they are good at a different kind of talent acquisition.

Did you know that Google Ventures started a blog?

There I learned that character is like a tree.

Haha! I love you guys. THIS is why I love PandaWhale. You calls 'em likes ya sees 'em. Kudos, respect and a hat tip.

I can't wait for Gogle Ventures to discover this conversation someday.

Oh, the things they'll say! :)

They'll say: is this the shadow or the tree?

This is the shadow. Definitely the shadow.

And from there we'll lead them to Plato's cave walls, the smoldering fire and the broken chains of the prisoners.

He-he.

Since Plato lived 2000 years before Lincoln, is it safe to say Lincoln ripped off Plato?

Ah, but now we're in the realm of "ideas." Can you rip off an idea?

If you're a musician or politician, yes. If you're a writer, better cite your source. :)