Why There Aren't More Googles (2008)
&gt; I&#x27;ve tried to explain this to VC firms. Instead of making one $2 million investment, make five $400k investments. Would that mean sitting on too many boards? Don&#x27;t sit on their boards. Would that mean too much due diligence? Do less. If you&#x27;re investing at a tenth the valuation, you only have to be a tenth as sure.<p>This turned out to be absolutely right, and the &lt; $2M checks have ballooned in volume. They are invested by firms that do not take board seats and do comparatively less due diligence.<p>That said with the benefit of more hindsight I think the reason there are no more Googles is that FAANG has a stronghold on the largest technology markets.