Controversial blog article at Wall Street Journal "Majority Of VCs In Survey Call Industry ‘Broken'"But even BETTER THAN THE ARTICLE is one of the comments written by, "It's Too Tough"; whoever you are. He/She has some critical and spot-on advice for the VC's telling them, "So fix it…. Stop Whining…. Go to work…. Shut up." and "Why not Innovate? INNOVATE!" your way out of it. For my part I couldn't agree more with those comments and the comments of "Steve153" to that article. As a bootstrapping startup CEO my experience with VC’s, exceptions noted, is exactly as those commenters say. I am a passionate, hungry entrepreneur, over 40 in age and with 20 years small, medium and large company experience. I have a simple but big idea that is available in limited beta and has been validated with initial customers who express willingness to PAY for our service from DAY ONE!! But since I’m not a “made man” in their inner circle “family” of CEO’s/founders who have previously exited, they write us off immediately. I think the “in a rut” VCs prefer the early 30-something founders who fawn over and stroke their VC egos. Also I think over time VC’s lose the courage to take the risks that got them where they are. They have so many reasons to rule out potential investments that they start missing the truly disruptive ideas. The Economic Asteroid of "No Free Lunch" has hit and the VC's are looking like brachiosauruses trying to find folaige to eat during a "nuclear winter". So long dinosaurs!!
It's time the bulk of VC's/Angels started acting like change agents again with some "sack" instead of bureaucratic and risk-averse corporate CEOs. No more strutting around getting the ego stroked and acting on gut instinct and a few last minute phone calls to "trusted" people who just mirror back whatever they think will please the VC.
That just doesn't cut it anymore.
Controversial blog article at Wall Street Journal "Majority Of VCs In Survey Call Industry ‘Broken'"But even BETTER THAN THE ARTICLE is one of the comments written by, "It's Too Tough"; whoever you are. He/She has some critical and spot-on advice for the VC's telling them, "So fix it…. Stop Whining…. Go to work…. Shut up." and "Why not Innovate? INNOVATE!" your way out of it. For my part I couldn't agree more with those comments and the comments of "Steve153" to that article. As a bootstrapping startup CEO my experience with VC’s, exceptions noted, is exactly as those commenters say. I am a passionate, hungry entrepreneur, over 40 in age and with 20 years small, medium and large company experience. I have a simple but big idea that is available in limited beta and has been validated with initial customers who express willingness to PAY for our service from DAY ONE!! But since I’m not a “made man” in their inner circle “family” of CEO’s/founders who have previously exited, they write us off immediately. I think the “in a rut” VCs prefer the early 30-something founders who fawn over and stroke their VC egos. Also I think over time VC’s lose the courage to take the risks that got them where they are. They have so many reasons to rule out potential investments that they start missing the truly disruptive ideas. The Economic Asteroid of "No Free Lunch" has hit and the VC's are looking like brachiosauruses trying to find folaige to eat during a "nuclear winter". So long dinosaurs!!
It's time the bulk of VC's/Angels started acting like change agents again with some "sack" instead of bureaucratic and risk-averse corporate CEOs. No more strutting around getting the ego stroked and acting on gut instinct and a few last minute phone calls to "trusted" people who just mirror back whatever they think will please the VC.
That just doesn't cut it anymore.
Are VC's losing their "sack"? ;-)
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