A shot of JD

“The history of corporate venture funds is a grim one. Companies invest in startups for all sorts of ‘strategic’ reasons, not all of which end up making them any money. That is the problem with corporate VC funds: their main goal is not always to maximize returns. If a startup is truly strategic for Google, it should just acquire it outright. In effect, this has been its venture strategy so far (outside of its philanthropic arm, Google.org).”