The author contrasts "VCs want Innovation" with "VCs want a product and a standard business model". They then claim that these statements contradict. For examp

The author contrasts "VCs want Innovation" with "VCs want a product and a standard business model". They then claim that these statements contradict. For example, Gridspy is making an innovative product, which is proven and already has several customers. However our business model is totally standard. 1) Sell units for profit. 2) Residual monthly fees for profit. You can make innovative products and companies with boring old business models. VCs are right to be cautious around "We have a great idea but no possible way to monetise it." Then again, I agree with pg that you don't need to have a business plan to have a great product. Companies such as twitter can turn into the most exciting startups.