The problems are as much in the beginning as the endgame. I agree that Umair has it wrong. And I like spreading the net wider. But, all deals are not cheaper

The problems are as much in the beginning as the endgame. I agree that Umair has it wrong. And I like spreading the net wider. But, all deals are not cheaper. Google spent a fortune on early R&D, and the world has moved away from that model, hence reducing the likelihood of building something hard with real barriers to entry. More on my blog: http://smoothspan.wordpress.com/2008/04/15/how-to-fix-venture-capital-part-2-the-opening-is-as-important-as-the-endgame/ http://smoothspan.wordpress.com/2008/04/15/how-to-fix-ventur...