Question 1
The most valuable company of its era was founded in Cleveland in 1870. Which one?
Answer
Standard Oil
John D. Rockefeller and his partners incorporated Standard Oil in Cleveland in January 1870, when the city's rail and lake access made it the refining capital of the world. Cleveland was a startup hub before the term existed.
Question 2
In 1957 the first modern venture firm put about $70,000 into Digital Equipment Corporation. What was that stake worth after DEC's 1968 IPO?
Answer
$355 million
Georges Doriot's American Research and Development Corporation turned roughly $70,000 into about $355 million, a return of more than 5,000 times. One outlier paid for everything, and venture's power law was born.
Question 3
Which venture firm publishes an 'anti-portfolio' of the winners it passed on, including Apple, Google, and Airbnb?
Answer
Bessemer Venture Partners
Bessemer's Anti-Portfolio openly lists the deals it turned down, from Apple and eBay to Google, Facebook, and Airbnb. Every pass looks obvious in hindsight, which is exactly why rooms like VC Fest exist.