Calacanis, Karp on mistakes

The 10th and final episode of The Deal's Behind the Money online video series on Startup 2009 isn't exactly a "gag reel," but the folks interviewed at the competition do own up to some bloopers when they answer our question, "What's the biggest mistake you ever made as an entrepreneur?" Jason Calacanis regrets he didn't sell Silicon Alley Reporter at the peak of the dot-com bubble. Daniel Klaus wishes he understood it was OK to make mistakes back when he was 18 and founding his first record label, Passion Music Group, the catalog of which was bought by BMG Music in 1998. David Pakman, now a partner at venerated venture capital firm Venrock, negotiated a deal with AOL when he was co-founder of Myplay that was not only too expensive but also resulted in Yahoo! Inc.'s (NASDAQ:YHOO) rescinding its $200 million offer for the music startup, which was later bought by Bertelsmann AG for only $30 million. David Karp, the 22-year-old founder of multimedia microblogging service Tumblr Inc., got distracted by all the attention focused on the hot startup before he hired a president and other help. You can watch the video, below, or download it on iTunes. Also below are links to the other nine episodes in The Deal's Behind the Money Startup 2009 series.