I agree with the post as I believe that VCs play tremendously important role in moving the tech forward. They have business knowhow to grow the companies. For that reason I am always looking for business ideas and thoughts in blog posts and books by VCs.
That said, I think that VC business is stacked up to optimize their returns and to sieve many entrepreneurs away. The whole business of "apply here" and "present to us" is somewhat demeaning to entrepreneurs, in my opinion.
Consider my recent experience with a "gold-tier ranked accelerator" with "concierge approach". They sent me an email and told me that they are very interested in my website, the website I've been running since 2004. (The website been profitable pretty much since day one.) So, what's the next step? Turns out I have to apply to them. Now, they came to me, not the other way around. I have not had any outside investors, and even though their expertise can propel my company, I existed without VCs, and technically I don't need them. I think they need to apply to me! So, I said no thank you, and that was the end of it.
Again, in my opinion, the system is somewhat upside down for smaller startups. Sure Google and Uber had enough of courtiers, but smaller startups are forced to beg, present and to apply.
That said, I think that VC business is stacked up to optimize their returns and to sieve many entrepreneurs away. The whole business of "apply here" and "present to us" is somewhat demeaning to entrepreneurs, in my opinion.
Consider my recent experience with a "gold-tier ranked accelerator" with "concierge approach". They sent me an email and told me that they are very interested in my website, the website I've been running since 2004. (The website been profitable pretty much since day one.) So, what's the next step? Turns out I have to apply to them. Now, they came to me, not the other way around. I have not had any outside investors, and even though their expertise can propel my company, I existed without VCs, and technically I don't need them. I think they need to apply to me! So, I said no thank you, and that was the end of it.
Again, in my opinion, the system is somewhat upside down for smaller startups. Sure Google and Uber had enough of courtiers, but smaller startups are forced to beg, present and to apply.