Interesting post. Perhaps a few other factors that affect this: a) sector. consumer web is very different from medical devices or energy. Can't think of any dr

Interesting post. Perhaps a few other factors that affect this: a) sector. consumer web is very different from medical devices or energy. Can't think of any drug or medical device companies that started without a IP portfolio. a) east coast vs. west coast? b) age / experience of the entrepreneurs, esp. if they've had any good exits in the past I'm thinking of the local (Boston) entrepreneurs, who raised $x million from some big-name VC firm for their nth venture, after the first 2 had good exits. The risk profile is very different from that of a 20-something entrepreneur doing a consumer web idea.