I have this friend who works as a venture capitalist in Silicon Valley. I call him the Vulture. He always has the best stories about what really goes on inside these crazy startup deals, and how VCs really behave once they've put money into a company — usually, like a pack of assholes. Last night he sent me an email about an item that was in the news yesterday: Kevin Rose, the founder of Digg and formerly a partner at Google Ventures, is bailing out of Google Ventures and starting an incubator, North Technologies. He has raised $5 million to get started, and admits he has no idea what the big idea will be. "You're investing in a couple product people getting together and trying a bunch of different ideas," he told re/code.
What happened to just letting a shitty idea die? For Kevin Rose, giving up the dream of owning a thriving app incubator is something he can't let go of. The former television personality's last company, Milk, released one app before the entire company shut down. Now after two years of investing, Rose is rehashing his old doomed business plan with a new company.
Google Ventures partner Kevin Rose is quickly racking up enemies in Portland. After infuriating thousands of residents over his planned demolition of a historic home, the Digg founder offered to sell the property back to the original owners for $1.375 million in cash. A group of neighbors scrounged together the funds and accepted Rose's offer, but he's leveling the landmark house anyway.