Investor Proud His Startup Is Wasting Money Living in a Mansion

When you scoop up some venture capital money, the first thing you should do is rent out a mansion in one of the wealthiest neighborhoods in Silicon Valley. Don't worry: after you move into Downton Valley, your investor will cheer you on!

Kevin Colleran, an angel investor and partner at General Catalyst, recently shared some news about one of his portfolio companies:

Investor Proud His Startup Is Wasting Money Living in a Mansion

Quickly, some of his Facebook friends chimed in to say that a bunch of "kids" renting the $10 million mansion at 125 Northgate Street in Woodside, California might not be the most prudent business move:

"That's a solid increase to the burn rate"

"Must be comforting to see your seed money used so wisely!"

"Hmmm, a "not so" humble start...how's their burn rate"

"Red flag"

Colleran then edited the post, deleting the "Definitely makes a statement" remark and adding "don't worry, they pay most of the rent to live there." Well, then. These "recent Stanford grads" better be working on something that makes Snapchat look like a bag of marbles if they want to justify living in the fucking Wayne Manor. Or, they should go work at an established company where kooky waste is OK.

Investor Proud His Startup Is Wasting Money Living in a Mansion

Colleran wouldn't name the startup in question—let us know if you have any idea.

To contact the author of this post, write to biddle@gawker.com