Aug 22, 2008 10:40 AM
777
Enter your username and password.
San Francisco, 4:00 PM
Tue Feb 9
56 posts in the last 24 hours
Doing nothing to turn the tide back in favor of all those kooky startup incubator kids, Union Square Ventures partner Fred Wilson offers this on why funding young wantrepreneurs is just good sense to him:
That youth and inexperience is an asset to many of these startups. We’ve been through why that is before. The founders have low personal burn rates so $25,000 can take them six months. They are largely developers/hackers who know how to build stuff quickly and inexpensively. They create lean, mean, capital efficient companies. They grew up with the web so they have a “native” feel for how web apps and services should work. And of course, they don’t know why they are going to fail so they “just do it”.
Or: "No, honey, that minimal investment doesn't make me look cheap; it's just your exceptionally high burn rate showing." (Photo by Xerostomia)
Contact information for this author is not available.
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.
Start a new discussion