venture capitalist


Fred Wilson tells the story in this extraordinary post of how his investment company, Union Square Ventures, missed the opportunity to invest in Airbnb, one of my favourite peer-to-peers. At the time, the founders had ideas but the service was still a marketplace for air mattresses on people's floors. It was, he says, the classic investor's mistake of focusing too much on what the business were doing at the time and "not enough on what they could do, would do, and did do".

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Questionable Sources

I can't claim to be qualified to dissect the behavior of venture capitalists (and I certainly don't mean to throw them all under the bus, as some of them number among my good, respected friends), but I wonder sometimes if marketers have been duped into believing in a social media liturgy that's actually a cover story for a concerted effort by technologists and their supporters to make money.

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Entrepreneurship Exists in the Tiny Space Between Madness and Genius

In his presentation at the Behance 99% Conference in New York, venture capitalist Fred Wilson outlined his views on ten different types of entrepreneurial models for the modern Internet economy. These range the gamut from the single-person Sole Proprietorship (Matt Drudge) to the Project (James Cameron's Avatar) to the Breakout (Foursquare) to the Company (Twitter).

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