[damoncali]

A very specific kind of investor - a career-long early stage VC. But even there, there is much room for disagreement without labeling people as "stupid".

I expect investors to be rational - and to seek profits where they are available given the information that is currently on the table. In some cases, that means they will say, "you know what? Screw that doc - we're selling these puppies."

[brlewis]

Your earlier comment sounded like you were saying that a company adopting this patent hack would be hard to sell to other investors. Isn't selling companies to other investors what an early stage VC does?

[damoncali]

If I were investing in a company that had these things, I would be concerned that the patents were now no longer licensable - that their value had been decreased by waiving some of the rights granted by the patents.

In certain situations, I could see investors trying to undo this agreement so they could unlock that value. If the value is great enough, they will try really hard (and given how vague this agreement is, I bet they'll succeed). That's all I'm saying.

In the end though, I don't see how this agreement is anything more than twitter saying "we won't sue people over patents, and we won't sell them to people who will". I don't see that as particularly significant. Just that twitter isn't pursuing licensing revenue as a strategy.

[fredwilson]

rational investors care about their reputation because that is what gets them into the good deals. maximizing profits over a career may require different actions than you think