Venture Capital’s “Mr. No” tells why he turned down Foursquare

When I interviewed Bob Ackerman a couple of years ago I called him “Mr. No” because he turns down so many deals but he and Allegis, which he co-founded, are one of the most highly regarded (he funded Ribbit, which got sold to BT, for instance).

Because he’s outspoken, it’s always fun to visit and hear his view on the market. We talk a long time, but one of the stories he told me is why he turned down Foursquare, among other things. You’ll also hear about why he thinks innovation is very much alive and that he hasn’t yet seen a venture bubble, other than valuations on a few companies, like Foursquare, gets too high for his tastes, but is always keeping his eye out for a broader, troubling, VC bubble.

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