VCs Maintain Innocence In Dot Com Bust

from the not-us!--it-was-the-other-guy! dept

Following on our Techdirt topic of the year, “who to blame”, here’s a report that many venture capitalists are defensive and upset that they’re getting blamed. They’re willing to blame just about anyone else, it seems. They blame entrepreneurs for taking the money from them (“it’s voluntary”). I’m also amazed that Tim Draper didn’t get beaten up for some of his comments at a panel that are mentioned in the article: “Why is everyone down in the dumps? This is when we’re having a good time! The best is yet to come. Now that we’re all connected, the next cycle will be faster, bigger and maybe even more wild and hopefully even more fun!” I’m not sure people want the next cycle to be faster, bigger, or (especially) more wild. Update: A good contrast to that article is this story about the CEO of Sapient apologizing for being stupid about the dot com bubble, and telling people we shouldn’t be looking for “the next big thing” but for ways to incrementally improve things with technology.

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