Bambi in the Woods
Longtime MarketWatch columnist Bambi Francisco has left to start Vator.tv, a video service that allows entrepreneurs to make pitches for capital to get their dreams launched. Early investors in her project include the one-and-only Peter Thiel.
SAN FRANCISCO (MarketWatch) -- The story about Vator.tv and my involvement has missed one component: my side. With that in mind, I feel it is only fair to me, to MarketWatch and to Vator.tv that I share my story.
Vator.tv began as a little garage project that I started last year to help me vet startups' pitches and to give exposure to those I'd invariably overlook as a columnist.
I mentioned the idea to Peter Thiel, co-founder of PayPal and manager of the $2 billion hedge fund Clarium Capital. Peter saw value in such a vetting mechanism, and he asked if he could invest. I told Peter that it was just an experiment at the time. But if the platform reached 50 videos, then perhaps it was worth investing in. Peter currently owns less than 5%.
Marketwatch
A few news organizations are trying turn her departure into a scandal alleging that she violated journalistic ethics and was comprised by conflicts of interest. Of course, these folks are the same people trolling blogs for ideas and “borrowing” them to keep editors at bay and meet deadlines.
Gordon Crovitz, a senior executive of Dow Jones stated:
“Our MarketWatch reporter Bambi Francisco started Vator.tv on her own time with our approval, under certain guidelines, on permitted areas of coverage. Bambi has decided to pursue her enterprise full time.”
Much ado about nothing in our opinion...let her go do her thing. If her venture contributes to innovation and job creation in even a small way we are all for it.
Speaking of entrepreneurs, here is Mark Cuban on vator.tv
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