This exact point occurred to me as I was listening to Reid Hoffman define 'entrepreneurship' at SXSW the other day. His definition restricted the term to 'indus

This exact point occurred to me as I was listening to Reid Hoffman define 'entrepreneurship' at SXSW the other day. His definition restricted the term to 'industry-disruptive technology' and 'big ideas'. I thought it was a pretty self-serving definition coming from an angel investor who needs those kind of giant hits to cover bad bets. It's also a lot easier to start what Mark Cuban is calling the Ponzi-style investment process where every round at successively higher valuations leaves the next group of suckers holding the bag.