Rory O'Driscoll said such situations are governed by non-legal but implied rules. The only way a firm gets through two competitive investments is to argue it loves its 'children equally' and say nothing public comparing them. He said those situations are especially fraught when the firm is actively involved, and that the Khosla episode was unhelpful for both companies.

“you love your children equally. You don't say anything in public about one about the other.”

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