Third Place in VCIC Finals
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The finals results from the 2006 VCIC International Competition are in:

1. Washington
2. NYU
3. Michigan

I know, I know... I shouldn't be upset. We went up against 55 of the best MBA programs in the world, and we came in 3rd. Don't get me wrong, I am ecstatic. We beat Harvard, MIT, Duke, and all of those other second rate business schools from across the world ;) ... but there's always that disappointment that comes with not being the best.

Still, I am proud of our team. We were the unwavering mavericks of the competition - consistently making bold moves that had the potential to sink us or lead us to victory. We were determined to win big or go down in flames trying. In the end, its hard to say whether this mentality hurt us or helped us (Dan Primack who writes Thomson's PE-Week Wire has his own thoughts about our performance), but I wouldn't change a thing.

Our first strong move was at the regionals in Boulder where the terms of our investment called for the current CEO to resign. The VC judges disagreed with the move, but rewarded us for supporting our strong stance. This weekend brought more of the same. This time we called for a minor "tweak" to the business plan. We essentially told the CEO that he needed to focus on one market rather than multiple markets. Again, the VC judges disagreed with us, but applauded our resolve and support of our decision.

Personally, I think the competition should be pay to play from here on out. Contestant teams will play with real money, and place real investments, with real terms. After 5 years the results will be posted based on the actual exit valuation of the company, and teams will be rewarded with the actual return on their investment. Okay, so maybe that's a little silly, but it's fun to think about. Maybe when the real world comes back around (only 2 weeks left!!!), I'll find a way to play on the real stage.

The Grind

Poor Shenika was sick all weekend, but stuck it out through late nights and was able to confidently deliver during our final presentation. (Notice the requisite junkfood on the table. Awesome.)

2 grand is better than no grand

Exhausted, the Michigan VCIC team poses for a group picture in the parking lot before the ride home.

Mastering Losing

Why is it that nobody remembers second or third? Maybe it's because we are all really playing for the Green Jacket. This leaderboard at least helps me rationalize our third place victory. (man did I want Freddie to win!)

posted by Jake B. @ 5:30:00 PM