Vulture Capitalist: New Kevin Rose Startup Is Just A Lottery Ticket

Dan Lyons · 01/15/15 11:05AM

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.