You know the phrases: upside potential, limited downside, repositioning, and so on. But what do venture capitalists mean when they describe their portfolio companies in such words? At last the secret's out. An anonymous British VC has compiled a glossary. Among its entries:
What they say . . .
Product's 90% complete
Leading-edge technology
Limited downside
Possibility of shortfall
Proven technology
We're repositioning the company
Upside potential
* * *What they mean . . .
We've got a name for it
We can't make it work
Things can't get much worse
We're 50% below plan
It nearly worked once before
We're lost
It's stopped breathing