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> I think the VC model itself is a great development from the last century. The fact that someone can raise millions (more than most people earn in a lifetime!)
by twtw 8y ago
> I think the VC model itself is a great development from the last century. The fact that someone can raise millions (more than most people earn in a lifetime!) with an idea enables a lot of innovation that would be hard to nurture otherwise
Isn't this what the public stock markets used to be used for, before an IPO became a way to cash out?
- SkyMarshal 8y agoNo, you can't take an early stage, pre-revenue company public. It takes ~7yrs plus or minus to scale a company from nothing to large enough to list on public markets, which is what VCs are for.
- twtw 8y agoSure, that's how it is now, but it definitely hasn't always been that way. The original public companies definitely were "early stage, pre-revenue," though you can argue that those were long enough ago to be irrelevant. Intel's IPO was 2 years after the company was formed.