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Steve Blank's issue isn't with how many years of experience the VC has -- it's about whether the VC has had any experience prior to 1995. Silicon Valley's rule
by RyanGWU82 17y ago
Steve Blank's issue isn't with how many years of experience the VC has -- it's about whether the VC has had any experience prior to 1995. Silicon Valley's rules changed in 1995, around the time of the Netscape IPO. Steve argues that entrepreneurs and investors raised after 1995 are unlikely to have experience running a sustainably profitable business. Their experience will be solely focused around "flipping" companies for a quick IPO or acquisition.
- benatkin 17y agoI think the need to understand the rules before 1995 is a decent point, but the headline implies that people can't gain perspective from before 1995 without actually being there. Not true. People who are curious enough can find a way to understand it.
- RyanGWU82 17y agoGood point -- definitely agree with you there.