Foundry Group Announces Major Shift In Investment Strategy

(Boulder):  Today, Foundry Group, a venture capital firm that invests in U.S.-based seed and early stage technology companies announced, via video, a major change to their investing program.  Previously, the firm has focused on cutting edge technologies within their well-known investment themes.  Effective immediately, however, the firm will focus on more proven technologies that present less technology risk.

“We really believe that the golden age of technology occurred 30 to 40 years ago and we intend on identifying and investing in the best entrepreneurs in these older, key technologies,” said Seth Levine, Managing Director.

When asked to detail which types of companies this might include, Managing Director Ryan McIntyre offered “While the smartphone ecosystem has enjoyed tremendous growth, we believe with dropped calls and other software issues, people will eventually move 100% back to landlines.  For that reason, we will begin to invest in corded phone technologies.”

Managing Director Jason Mendelson explained why the firm chose the medium of video to announce the news.  “We expect that many folks will not fully understand this decision and potentially think we are making a mistake.  The video was produced to visually show people the ineptness of current technology and clearly show how much better off we were yesteryear.”

When asked for further comment, Managing Director Brad Feld was unreachable after replacing his office iMac with an Apple II computer connected to a Hayes 2400 Baud Modem.  Apparently, he has yet to figure out how to connect to the Internet and will revert from using email to dictating messages to his assistant.

To see the live announcement, please see the following:

____________________

So, seriously?  Why did you guys release another music video?

A little over two years ago we released I’m a VC, a video that poked fun at the venture capital deal process while promoting Venture Deals, a book that Jason and Brad had released.  With over 90,000 views, we were pleasantly surprised by the response.  We also had a ton of fun making it.

Last December, while at our quarterly partner offsite, we discussed plans for 2013.  Seth mentioned that “we should make another music video.”  Jason quickly countered “you mean I should make another video since you guys can’t write one yourselves?” To this, Seth agreed and further requested that Jason make the next song a rap since neither he, nor Brad could sing well.  Giving Jason no other direction than that, it seemed unlikely that anything would come of it.

One day, Jason sat down to think about what the subject matter would be.  Having made fun of venture capitalists, who else was a fun target?  After discarding the idea of drummers and lawyers (both of which Jason has been in prior lives), he settled on technology, as he remembered a great rant by Louis CK on the subject.  Then a few days later, he heard the classic rock song Best of Times by Styx and immediately conceived the idea of the Worst of Times video.

While sitting poolside at the Holiday Inn Express in Escondido, California (a very underrated breakfast bar, by the way), Jason and Ryan wrote the lyrics.  Shortly thereafter, the vision of the video began to form and culminated with us filming the video in late August.  Today, we are proud to show you what we came up with.

Bottom line:  The four of us love each other. We enjoy working together as well as having fun together. We have thoroughly enjoyed our experience to date at Foundry Group and love the creativity that emerges when we are together.  We don’t take ourselves seriously and don’t play golf.  So why not another music video?  We hope you enjoy it.  And even if you don’t, we are pretty sure you are curious what we each look like in drag.

 

64 Comments
  • craigsli

    thats fucking awful. rich guys…

    • http://clareyouthere.com/ Clare

      Roses are red, violets are blue, I have five fingers, the third one’s for you. Hater!

      • https://www.codeship.io/ Florian Motlik

        I will have to steal this from you.

        • http://clareyouthere.com/ Clare

          Please do. :)

      • craigsli

        what’s the difference between a hater and someone with an opinion?

        ps good thing you have 5 otherwise…brrr…lonely nights for Clare….

      • Kelly James

        I <3 you. I know no one else who could virtually flip someone off so gracefully. Bravo.

        • http://clareyouthere.com/ Clare

          Love you, Kelly!

  • jessemiller

    Well played guys. Hilarious. Seth looks surprisingly good in a dress. :)

    • jasonmendelson

      Yes, I’m jealous

    • http://www.sethlevine.com sethlevine

      thanks jesse! (i think)

  • @lukegobrien

    Awesomesauce.

    Color Me Badd meets Hummer Windblad, with twice the talent and half the fashion sense. And THAT’S a definite maybe.

    • jasonmendelson

      I prefer to name our band after the pottery painting place Color Me Mine

  • http://travelatus.com/ Valentin Dombrovsky

    Cool. :)

  • megansweeney

    Love how Jason has a passion for writing & music, is good at it and just does it. If only we all went after things we love.

    • jasonmendelson

      That is so nice of you to say Megan! Thank you!

  • adamtr

    I might never be able to unsee that Robert Palmer scene.

    • jasonmendelson

      That is not a bad thing

      • colin

        that was my favorite clip in the whole thing. well, that or the office space printer destruction :)

        rah

    • jasonmendelson

      Then my work here is done.

  • http://www.startupmanagement.org/ William Mougayar

    Very funny. I loved the Beatles rendition clip, but it was so short.

    • jasonmendelson

      I didn’t wand the copyright police coming after me!

      • http://www.startupmanagement.org/ William Mougayar

        :)

  • Laura Fitton

    the best moment, by far, and i haven’t even finished watching this, is the moment they flash back to their old getups – AND BRAD IS WEARING A NORMAL BRAD SHIRT.

    so much <3 you guys!

  • http://www.pointsandfigures.com/ pointsnfigures

    Music was better with no electronification.

    • jasonmendelson

      Certainly, which is why I harmed no real instruments for this parody. :)

  • Glenn@MessagePetz

    The doctor will see you boys now. First, tell him about your childhoods. Then tell him abut your first startups…
    Hilarious!

    • jasonmendelson

      hah!

      • Glenn@MessagePetz

        Seriously Jason, great job and very, very funny. Took me back to the good old days when the people were skinny and the jeans were phat.

        • jasonmendelson

          :) Nice. And thanks!

  • http://gan.co/ Sarah Jane

    Lesson learned watching this video: Nicole Glaros was born to be a back up dancer. Impressed.

    • http://nearlynicole.com/ Nicole Glaros

      I’m blaming the #epicfail on the lack of bounce in the diving board…

      • jasonmendelson

        It wasn’t like you could practice!

  • angilly

    You guys are awesome. Not awesome rappers. But awesome.

    • jasonmendelson

      I’ll take that as a compliment. (We rap better than we sing, collectively, however)

      • http://www.sethlevine.com sethlevine

        by “we” jason is referring to me and brad. jason is a great singer and ryan is pretty good too. us – not so much!

  • Kelly James

    “We don’t take ourselves seriously and don’t play golf” LOVE it!

  • Stephen

    Awesome video guys, wouldn’t expect any awards, but entertaining for sure. Brings me back to when I wasn’t tied to the phone, computer and email all the time! What’s an example of a landline type investment or technology that you think will make a new debute? Commercial? Residential? I think its a really interesting idea that I somewhat agree with. Pendulum swings too far and its gotta come back…

  • Christina Roberts

    Ha! Four square on the playground. So funny!

  • http://www.philsimon.com/ Phil Simon

    Technology is cyclical. Bring back the beepers.

    • jasonmendelson

      Yes! Plus they are so fashionable.

  • Karla

    Mocking my favorite band of all time? Here’s my only suggestion…keep having fun!

    • jasonmendelson

      We shall try!

  • Craig Kendall

    Priceless! Great job to all who participated, and especially to the one or more that came up with this award winning idea.

    • jasonmendelson

      Thanks!

  • Meena Srinivasan

    This was really fun to watch.. All of you look like you were having a great time! Jason, you have great vocals! Good to see Aria featured.. though it doesn’t tweet yet:)

    • jasonmendelson

      It should! I’d love more weight. :)

  • John @iHireAssociates

    nice work! this could be fulltime work… LA is calling, ring, ring! great start for my friday. LOL

    • jasonmendelson

      Full time work only if I wanted to be unemployed. :)

  • http://www.cazoomi.com/ Clint Wilson

    Now that is one take on investing:)

    ~Clint
    @cazoomi

    • jasonmendelson

      yes, probably a bad one, too. :)

  • Steve Myers

    beats golf any day…..excellent video!

  • Miroslav Boublik

    It’s refreshing to see VCs who don’t take themselves too seriously.

    • jasonmendelson

      That is a true statement! Hope you are well!

      • Miroslav Boublik

        Thanks. Enjoying a perfect autumn day in Kiev on the way to Prague.

  • Mark Phillips

    Can we meet? I want to pitch an idea for a filing cabinet company. THEY’RE METAL!

    • jasonmendelson

      That’s definitely innovative!

  • JC

    It’s catchy. Does this mean that “ability to sing/dance” is being added to the investment screen?

    • jasonmendelson

      Quite possibly

  • Jason S. Lewis

    This is one of the many reasons why Colorado has the best culture for startups. #FunVCs

    • jasonmendelson

      Thank you for saying!

  • Michael Parker

    Excellent!!…love the Palmer girls cameo.

    • jasonmendelson

      Note that I chose to be Robert Palmer. I look horrible in a cocktail dress. :)

  • ROMEL

    I had listend to your book over a year ago, never seen your website. it was refreshing to see how crazy you guys are. If Bano & Beatles would start a VC group, it might look like this. Thanks, It made my day!!

    • jasonmendelson

      Thanks for saying!