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More Bad News
TheFunded.com Open Letter
Posted by jetskier on 2009-11-24
PUBLIC:
Not too surprising. Investment in venture funds continues to decline and next year is predicted to be more of the same:
To Jetskier:
The premise of Michael Greeley ... "There will be fewer firms, fewer venture capitalists, by this time next year," is nonsense.
He defines a VC as someone who has no stake in any particular technology and product and just functions as kind of a moneylender for other people.
How did the VCs control that conversation????
Every start up ... which has a founding member that injects his own money is a venture capitalist. Every start up that risks personal and private equity has a VC or multiple VCs on board.
Restricting the definition to the moneychangers does all of us a disservice.
The focus on the moneychanger contribution to venture and to capitalism is misguided, to say the least.
The Founding Member has plans to introduce 1,000 companies this year that are start ups through his Founders Institute. They are all VCs.
Change the terminology. The moneychanger portion of the CaptilistVenture sector is dying.
That I can accept, as it is the truth.
BW