One of John Doerr's biggest regrets is that he didn't invest inTesla in 2007.
The conventional wisdom was that venture capitalists wouldn't invest in electric vehicle companies and new car companies, according to the chairman of Kleiner Perkins.
He said that they had a choice of backing a brilliant car designer by the name of Fisker or an ambitious, slightly crazyentrepreneur by the name of Musk.
Kleiner Perkins invested over $10 million in Fisker automotive. The company was in the process of filing for bankruptcy. The same logo and trademarks were used by Fisker Inc. The company went public on the New York Stock Exchange but still lags behind.
Musk didn't take over the role of chief executive until the following year after Martin Eberhard stepped down as CEO. The company didn't make its first car until 2008 and only sold 500 of the $109,000 cars. The electric-car maker is worth close to $1 trillion today.
"That's probably the worst investment decision of all time, that's what I'm saying," he said. The billionaire said he wouldn't forget the regrets.
In spite of his failure to recognize the potential of the company, he jumped in on the ground floor of several companies.
When he first met Bezos, the billionaire immediately connected with him.
Both of us were computer science nerds. He had a vision that if he had the broadest selection with the most affordable prices and the best customer experience, he could grow his business.
He didn't know that Amazon would grow into the company that it is today. The venture capitalist said that Bezos had a clear business plan and that his investment in Brin and Page was more of a leap of faith.
It was a controversial decision. They did not have a business plan.
The billionaires didn't know how important the internet search function would be.
He said he regretted overlooking other companies, such asTesla. The billionaire, who is worth $5.8 billion, said he missed out on opportunities to invest in companies such as Sun Microsystems.
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