4 ms·

Start Up the Risk-Takers

28 points by asnyder 18y ago

sachinag 18y ago
Honestly, the VCs would just throw the money at their existing portfolio companies. If you were going to give away $20 billion, you'd be better off at doing it through SBA grants. You'd be a lot closer to the proverbial Main Street nationally, not concentrated on the coasts.
- thinkcomp 18y ago
  I just sent an e-mail to Friedman telling him more or less the same thing. As usual, his head appears to be somewhere in the clouds. Venture capitalists aren't going to be part of the solution until they stop being part of the problem.
- iamelgringo 18y ago
  There's no reason why you couldn't put stipulations on a plan like that. Just make the money go to new green tech ventures. I'd also venture a guess that after Manhattan, So Cal has lost more money per capita in the real estate bubble than many other places in the country. So Cal is where that investment and research is needed. There's already a lot of Solar and Wind power projects down there. It would be a great idea to invest green tech VC money down there. So Cal _is_ "Main Street" for millions of people that are hurting right now.
- keltecp11 18y ago
  I met a VC the other day who was bragging about flying first class... When the VC got up to go to the bathroom, I looked at my partner and asked him if he knew who was paying for the upgraded ticket? Exactly. VC's would blow this $ in a heart beat.
sam_in_nyc 18y ago
Try pitching this idea ($20b to VC's instead of detroit) to the public. I can't help but postulate their response: "So my tax dollars go to some yuppie 25 year olds making some website with cute icons... meanwhile my buddy in Detroit is out a job! He's got a family to feed... a family!!! These people must hate America, and everything she stands for!" My point is the majority of people do not have any vision. They do and think whatever everyone around them does, which comes from TV or their parents. If anything you pitch to them requires an explanation, you've already lost.
swombat 18y ago
Better solution: do both.
iamelgringo 18y ago
There's been a lot of VC money flowing to green-tech projects, and I'm sure there's going to be more. Those projects are capital intensive, and have the potential for VC profitable exits. Software projects don't really need money on a VC scale any more. They need angel level investment. Silicon Valley is going to start needing a lot more EE's with a specialization in Green tech, and few and fewer software engineers.

28 points by asnyder 18y ago

Honestly, the VCs would just throw the money at their existing portfolio companies. If you were going to give away $20 billion, you'd be better off at doing it through SBA grants. You'd be a lot closer to the proverbial Main Street nationally, not concentrated on the coasts.

thinkcomp 18y ago
I just sent an e-mail to Friedman telling him more or less the same thing. As usual, his head appears to be somewhere in the clouds. Venture capitalists aren't going to be part of the solution until they stop being part of the problem.
iamelgringo 18y ago
There's no reason why you couldn't put stipulations on a plan like that. Just make the money go to new green tech ventures. I'd also venture a guess that after Manhattan, So Cal has lost more money per capita in the real estate bubble than many other places in the country. So Cal is where that investment and research is needed. There's already a lot of Solar and Wind power projects down there. It would be a great idea to invest green tech VC money down there. So Cal _is_ "Main Street" for millions of people that are hurting right now.
keltecp11 18y ago
I met a VC the other day who was bragging about flying first class... When the VC got up to go to the bathroom, I looked at my partner and asked him if he knew who was paying for the upgraded ticket? Exactly. VC's would blow this $ in a heart beat.

sam_in_nyc 18y ago

Try pitching this idea ($20b to VC's instead of detroit) to the public. I can't help but postulate their response: "So my tax dollars go to some yuppie 25 year olds making some website with cute icons... meanwhile my buddy in Detroit is out a job! He's got a family to feed... a family!!! These people must hate America, and everything she stands for!" My point is the majority of people do not have any vision. They do and think whatever everyone around them does, which comes from TV or their parents. If anything you pitch to them requires an explanation, you've already lost.

swombat 18y ago

Better solution: do both.

iamelgringo 18y ago

There's been a lot of VC money flowing to green-tech projects, and I'm sure there's going to be more. Those projects are capital intensive, and have the potential for VC profitable exits. Software projects don't really need money on a VC scale any more. They need angel level investment. Silicon Valley is going to start needing a lot more EE's with a specialization in Green tech, and few and fewer software engineers.