Your VC Wants A Hug

from the feel-good-reports dept

The venture capital industry seems to be a bit afraid that bad things are about to happen to them. After the dot com bust a lot of people were pointing their fingers of blame in the direction of VCs. VCs were suddenly a bit afraid that Congress might do something crazy towards the entire VC industry. So, they did what any industry in trouble does, and sponsored a report showing just how valuable they are to society. The Business 2.0 reporter pretty much trashes the report for just being for publicity's sake, or to throw at Congress should they tire of throwing subpoenas at Worldcom execs. While I do think that VCs ran a little crazy at the height of the boom, and I still believe that a lot of people put way too much faith in the VC process, that doesn't mean it's all bad. For some businesses, and some people, it's certainly a very valuable systems. The things to remember are that VCs make plenty of mistake and there are plenty of businesses that shouldn't be venture funded.

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