by Miriam Garvi
Here are some favourite anti-quotes (from the dissertation Venture Capital for the Future) taken from the world of venture capital:
«You can be brilliant and have bad products and still succeed.» (CEO of international VC fund).
«Ten years ago, I applied for a job advertised in the newspaper. There were 180 applicants. After four weeks had passed I called the guy at the recruitment agency in order to find out how things were going. He said «Sorry, it didn’t work out.» Why not? «Well, there were so many applications that I split the heap of papers and threw away half of them. I said: they’re unlucky! And who the %&¤& would want to hire somebody with bad luck?» The point is that when we screen who should manage our investment it’s like betting on who we believe will be lucky!» (investment manager).
My question: Is this venture capital or speculation capital? If so, what entrepreneur would like to offer his or her venture up for speculation?