It’s Too Bad Dave McClure Doesn’t Tell It Like It Is… ;)
http://www.fastcompany.com/1676896/moneyball-for-startups-invest-before-productmarket-fit-double-down-after
The INTERNET has changed life DRAMATICALLY for BILLIONS around the globe — yet most VCs & lawyers still close deals via fax & snail mail.
Fuck. That. Noise.
Most consumer internet investors, large or small, have no goddamn clue what they are doing. They are getting killed on IRR, and most of them should be put down & put out of their misery… NOW. Their investment thesis is suspect, their domain-specific skills are limited or non-existent, and their desire & ability to innovate is minimal. They are simply collecting fees, waiting for the next tee time.
Well ATTENTION K-MART SHOPPERS — you, Mister VC 1.0, are about to be DECIMATED… and it’s a Schumpeterian Fate that is both deserved and overdue.
HURRY UP & DIE ALREADY, U FRIGGIN’ PATHETIC DINOSAURS.
Indeed: most VCs are Dinosaurs, and the World Wide Web is an Asteroid that hit the planet in a slow-motion cataclysmic explosion 15 years ago. It may take another 5 years for the ash clouds & nuclear winter of Browsers, Search Engines, Social Networks, & Mobile Devices to kill all the T-Rexes, but it’s a done deal. The marsupials are taking over and in 2015 there will be a lot more investors that look like Jeff Clavier, First Round Capital, Y-Combinator, TechStars, Betaworks, & Founder Collective than any Sand Hill VC (funny how all the innovation is from non-valley investors, isn’t it?).
