For all the future founders on HN, the lesson here is to never do business with Bill Gurley. He's one of the reasons AngelList exists. I hope his lesser known reputation finally catches up with him and forces him out of Benchmark and out of the VC industry entirely.
The Ravikant v. Tolia (and Bill Gurley) Lawsuit: http://blog.ericgoldman.org/personal/archives/2005/02/ravika...