Oct 14, 2014 · 0 minutes

Jeremy Levine has invested in some of the biggest consumer hits of the Web 2.0 era, including LinkedIn, Yelp, and Pinterest. He's also refreshingly humble and honest about some of his biggest misses -- In 2004, Levine brushed off a relentless kid named Eduardo Saverin, telling him, "Kid, haven't you heard of Friendster?"

That mix of wisdom, candor, and storytelling made for one of our most enjoyable and valuable PandoMonthlys yet. Joining Sarah Lacy on stage in New York, Levine also explained why so many investors initially passed on Pinterest (the fact that most VCs are male and the product's target audience was female didn't help), where to look to find the next billion dollar idea (Craigslist -- trust us, it makes sense), and why most New York ecommerce companies are actually fashion companies -- and that's a good thing.

Watch the full video below: