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Investor Stories 451: Why I Passed: Moving Too Slowly, Misreading Return Drivers, and Passing on Lyft (Banks, Tananbaum, Cohen)
The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified · 2026-01-08 · 8 min
Episode notes
On this special segment of The Full Ratchet, the following Investors are featured: Lara Banks of Makena Capital Management Jim Tananbaum of Foresite Capital David Cohen of Techstars 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 Nick Moran of New Stack Ventures , a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached. Want to keep up to date with The Full Ratchet?