In my two previous blogs, I noted that 99.95 percent of you will not get venture capital, and that 99.997 percent of you may want to refuse VC, even if offered. Are these results universal or are there other factors that affect venture success?
One of the most enduring and influential beliefs of the last few decades has been that entrepreneurs need venture capital to build giant companies. This might be true – but only in Silicon Valley.
Silicon Valley has been the land of milk, honey, and money for entrepreneurs and venture capitalists. Arguably Silicon Valley VCs have helped to build perhaps the greatest assemblage of giant, non-financial companies the world has seen. Starting from around the early 1970s, using all types of venture-capital funding arrangements (rich individuals, family funds, small business investment companies, and VC limited partnerships), they have amassed a string of successes ranging from Intel INTC -1.42% to Facebook FB +2.76%.