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Saying No To VCs
from the take-a-hike dept
A good article from the founder/CEO of a tech company who's turning away all the VCs who call him offering to invest money in his company at ridiculously low valuations. There are some quotes about how many tech companies simply become employees of venture capitalists, which takes away all the incentive. Of course, at the end of the article they do point out that the company has taken money - though mostly from corporate venture investors. While many business publications used to always explain that management should expect to only own 5% or less by the time a company is ready to go public, I think many businesses are beginning to realize the dangers of such arrangements. The people with the decision making power don't necessarily know what's actually going on.
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