Venture capitalist Sean Jacobsohn has turned his failed businesses hobby into an extensive collection of more than 500 items, now housed in glass display cases in his office. He calls it the “Failure Museum.” While his day job involves helping startups succeed as a partner at Norwest Venture Partners, collecting items from failed businesses has become his passion project.
Since he began a year ago, Jacobsohn has gathered various artifacts, ranging from sports memorabilia to discontinued products, such as an unopened bottle of 1999 Webvan-branded champagne from the company’s IPO. Among his tech-related items is a Theranos lab coat, Elizabeth Holmes’ business card, a Juicero juicer, and a Bird “Birdie” scooter.
Jacobsohn also runs a website for the Failure Museum, where he details the physical pieces of his collection, which are obtained through solicited donations and eBay purchases. But no NFTs are allowed in the museum collection. His interest in failed companies’ swag is not just a hobby, as it informs his investment decisions, with many founders reaching out to him after learning about the museum.
In light of the current startup climate, Jacobsohn’s hobby has gained significance, prompting him to contemplate giving a guest lecture at Harvard Business School on “Avoiding Startup Failure.” As for the future of the Failure Museum’s collection, only time will determine which startup-branded items will be next on Jacobsohn’s wishlist. If you’re a founder seeking to connect with him, holding onto your startup relics might be a wise move.
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