December 2, 2007

Venture Capital - Good, Bad, and Ugly

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I've never taken any VC money, although I have talked to a few VCs about getting some investment capital. But the experience was so time consuming that it was just not worth the effort. My business was moving too fast to be slowed down by endless VC shenanigans. After all the work of dealing with VCs, I decided to go it alone, focus on profits to raise the money I needed to grow, and of course it worked. The best part is that I didn't "let the camel's nose into the tent", and would up owning the business 100%.

I figured my experience was unique; after all, there have been a LOT of companies where VCs have made a big contribution to startup success.

Today, I discovered the real truth: and it's not all you've been lead to believe. Now, with the "wisdom of crowds" approach that comes with the internet, you can check out real-world feedback from people just like you who have gone through the VC's fire-drills to get the money they need.

Read the full story in this Wired Magazine article.