Founders Fund: Eyeing Life Beyond Consumer Web Startups
I recently grabbed coffee with Justin Fishner-Wolfson, a personable principal at Founders Fund in San Francisco. He had some interesting things to say about the new media scene in San Francisco (there may be up to 20 startups in the city’s South Park district alone, including Twitter), and why what’s piquing his partners' interest these days has less and less to do with that world. Most notably, Fishner-Wolfson told me that Founders Fund has pretty much made all of the bets it plans to make on consumer Web companies out of its current fund and that it turned its sights some time ago to other opportunities. “We still see every consumer deal out there. I’d be shocked if there was a deal we haven’t seen, or else know about, but the signal to noise ratio is much, much lower ," he says. “We consider that we’ve made our investments. I’d be surprised if we made many more in the near future. I think we’d rather see how do at this point.”
