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Our column in the Business Journal
On April 7 a syndicated column entitled “Why your company should avoid venture capital” ran in several City Business Journals. The piece struck us as a bit uncharitable and off point, so we asked our hometown Tampa Bay Business Journal for the chance to reply, to which they graciously agreed. Our column ran today and can be found here. (Or if you prefer a .pdf, here.)
Early stage investors don’t always fit neatly into categories and take varied approaches to working with entrepreneurs, so one must be careful not to paint with too broad a brush when criticizing or praising. However the industry as a whole is indisputably critical to the nation’s wealth and well-being.
20% of U.S. gross national product is created by companies that were formed through venture backing. Everybody knows Google and Facebook, and before them Apple and Intel, but there are countless lesser known venture-backed companies throughout the country who have contributed to economic growth and created high quality jobs. Venture capital is the one asset class that consistently creates the next generation of great companies and jobs and it doesn’t ask for (or need) bail-out.