Fred Wilson doesn’t like the Dead Pool over at Techcrunch.
A friend of mine communicated a better idea for him and other venture capitalists. Why not spend more time looking at original ideas – real detailed business plans with actual revenue models? The dead pool would be a lot smaller if people did hard work instead of chasing “existing businesses” which are little more than a web site with some content. So why not spend more time looking early stage companies that have real, independent, revenue producing business models with strong strategy? You’ll find your industry default rate will go down. Don’t know where to find these fledgling companies? Just ask me (my referral fees are quite reasonable).
Believe me, VC’s really don’t mind having revenue! At the end of the day we’re looking for “exitable” businesses, and that means real value whether or not it’s turned into cash by the time they get out or not. I guess I should be sanguine; entrepreneurs are always going to believe that VC’s are missing the best opportunities- i.e. there own!
Ed
Sorry about the typo! “Their” own