Venture Capitalist Looking Forward to Another Day Throwing Money at Anything That Moves
Vernon Albright, of venture capital firm Albright&Allbright, hummed a tune on his way home today, already looking forward to going back to work tomorrow to throw money at quite literally anything that moves and/or with a decent PowerPoint presentation.
Mr Albright, who began his firm back in the heyday of the Silicon Valley investment orgy, has made some quite spectacular investments, including with an early-stage Facebook, Airbnb, Tinder, as well as many other technology companies offering their products to almost every industry on the planet.
This has made Mr Albright very wealthy —but it is not this thirst for wealth that drives him to buy equity in companies, just to compromise the values that the founders had for a profitable exit. No, Mr Albright has claimed several times within earshot of Wired and TechCrunch journalists that he invests solely in companies that are going to “change the world.”
Just earlier that day, a CEO of an electric skateboard company mentioned the phrase seventy-two times in his presentation. Mr Albright threw so much money at him for an hour afterwards, it resembled a strip club in the boardroom of the Palo Alto office.
There are critics that say this ballooning investment into technology companies is eerily reminiscent of the dot-com bust back at the turn of the millennium. When asked about whether or not he thought the market was in bubble now, Mr Albright said, “What bubble?”
