east-vs-west

Boston VC who passed on Facebook trashes the Valley

Megan McCarthy · 09/10/07 07:29PM

Would Cambridge-founded social network Facebook have grown into its current role as tech media darling if it had stayed back east instead of seeking its fortune in California, wonders Boston.com? Answer, as supplied by Facebook investor Jim Breyer from Accel Partners: No. As in N-O. No effing way. Nada, etc. Why? Breyer elaborates: ""So many of the Facebook employees have come from top Internet companies like Yahoo, eBay, and Google that the culture that has been built at Facebook is fundamentally more consumer/Internet savvy than if it would've been built anywhere else on the planet." Sounds plausible to us! But bitterly jealous Battery Ventures partner Scott Tobin—who passed when Zuckerberg came to him for startup money— has a different take. "Folks in the Valley are incredibly ego-centric to a point of snobbery" he blithely claims. True enough. But, he goes on to say, passing on Facebook "may turn out to have been a mistake."