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  <title>Investor Stories 477: Why VCs Passed on Figma, ClickUp, Uber, Pinterest, Okta, DoorDash, and Anthropic: Lessons from Investor Anti Portfolios (Ulevitch, Saper, Patnam)</title>
  <description>  n this special segment of The Full Ratchet, the following Investors are featured:   David Ulevitch of Andreessen Horowitz  Jake Saper of Emergence Capital  Sandesh Patnam of Premji Invest   Each investor highlights a situation where they decided not to invest, why they passed, and how it played out.  The host of The Full Ratchet is&amp;amp;nbsp;Nick Moran&amp;amp;nbsp;of&amp;amp;nbsp;New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.  We’re proud to partner with&amp;amp;nbsp;Ramp, the modern finance automation platform.&amp;amp;nbsp;Book a demo&amp;amp;nbsp;and get&amp;amp;nbsp;$150—no strings attached.&amp;amp;nbsp;&amp;amp;nbsp;  Want to keep up to date with The Full Ratchet?&amp;amp;nbsp;Follow us on social. You can learn more about New Stack Ventures by visiting our&amp;amp;nbsp;LinkedIn&amp;amp;nbsp;and&amp;amp;nbsp;Twitter. </description>
  <author_name>The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified</author_name>
  <author_url>http://fullratchet.net</author_url>
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