New York City Dustup
A couple of high-profile New Yorkers are trading blows over the relationship between VCs and entrepreneurs. Blogs Inc. founder Jason Calcanis ripped into VCs – he bootstrapped his company – and VC Fred Wilson provided a retort. We think Wilson is making Calcanis look like a blowhard.
Calcanis opened himself up to an easy challenge when he asserted that “real entrepreneurs don’t raise venture capital.” But Larry and Sergei raised venture capital. Nuff said. Calcanis also gets it wrong that VCs spend their time with their winners rather than their losers. We would agree with Wilson’s assertion that VCs don’t like it, but they have to spend more time with the losing side of their portfolios. One point where we agree with Calcanis is that it is increasingly easier for entreprenuers to succeed on their own, and perhaps with some angel help, without going to VCs. It comes around to something that VC Brad Feld wrote in our recent IMterview, entrpreneurs need to understand what VCs are motivated by and don’t carry false illusions.
Read – Fisking Calacanis (A VC)
Read – Fisking Fred Wilson, Fisking Fred Wilson… has Fred Wilson left the building?? (The Jason Calcanis Weblog)