First Round Capital is a venture capital firm that supports some of the most buzz-worthy startups out there today. Phineas Barnes is a principal at the firm and a previous employee of two startups. One of the startup businesses he worked for succeeded, while the other failed. The latter's failure did not bring Barnes down. His entrepreneurial experiences taught him valuable lessons about how to judge startups and interact with entrepreneurs at First Round Capital. In an interview with Business Insider, Barnes explains how he decides to pick startups for his portfolio. Watch the video below to learn more: