Cameron and Tyler Winklevoss have put their $65 million Facebook lawsuit settlement money to work, starting Winklevoss Capital, a venture-capital firm focused on technology investments.

The duo were asked by Yahoo!’s Daily Ticker what went wrong with the Facebook initial public offering.

Cameron Winklevoss said the insiders got greedy and didn’t leave something on the table. “I think when you alienate a group of investors, it takes time to build that rapport back.”

Tyler Winklevoss thought the hoodie and “hacker way” ethos didn’t play well with public investors. Mark Zuckerberg’s business model “might work in Silicon Valley with venture-capital firms, but when you go public and you’re talking to the Street, they’re much more concerned with numbers and bottom line and accountability.”