Kirsner didn't explicitly mention this, but notice here that it wasn't another VC that invested in the deal Battery passed up, but an angel. Angels are a lot bolder than VCs.
The big difference between Silicon Valley and Boston in my experience is that the valley has more and much bolder angels. The VCs in the two places are similar. Boston VCs have a bit less testosterone than valley VCs, but it's not a huge difference. The real difference is the angels. And unfortunately for Boston, angels are the deciding factor in how big a tech hub a city becomes.
Which brings me to a question I have always wanted to ask... If a startup already has Angel funding, is there any additional advantage to be derived from moving out west?
Advantages: more hackers, more angels(you can always get more funding, right?), more partnership opportunities, warmer weather, not everyone wheres a Red Sox hat, Arnold will be your governor.
Disadvantages: more expensive, have to build a new network, expensive to move(both time and money), Arnold will be your governor.
Yes. For one thing, it's probably not the last funding you'll ever raise. Plus there are other advantages to being in a startup hub, and SV in particular, besides the investors.
The big difference between Silicon Valley and Boston in my experience is that the valley has more and much bolder angels. The VCs in the two places are similar. Boston VCs have a bit less testosterone than valley VCs, but it's not a huge difference. The real difference is the angels. And unfortunately for Boston, angels are the deciding factor in how big a tech hub a city becomes.