Most investors regret their bad deals. Leo Polovets regrets the great ones he passed on over price. Some became $10B companies. Price is the easiest reason to say no. It’s also the most expensive. @lpolovets is General Partner at @humbavc. Thirteen years ago, he co-founded the seed fund @SusaVentures. When I asked what he’d tell his younger self, his answer was tactical: “Our biggest misses were ones where we liked everything except the price and then we passed because of the price and then years later it’s like a multi billion or sometimes ten billion dollar company.” Two of them skipped seed and went straight to Series A, at roughly three times the price Susa was comfortable with. His conclusion: “We love everything except the price, like we should have just done it.” His rule now is simple. If the doubt is the team, the product or the market, pass. If the only doubt is price, a gap of 10 to 30 percent can be bridged. Double still feels pricey to him, but on those two misses, even three times the entry price would have been a great investment. When the outcome is a ten billion dollar company, a 3x entry price is a rounding error. When the outcome is a zero, the entry price never mattered either. Price is the one mistake you can afford. The pass is not. This episode is presented by @juniper_square, with additional support from @AlphaSenseInc. Full episode below 👇 youtu.be/l_1170mxqqA