So you're saying that the threshold to getting into a fairly exclusive club (getting VC funded) is to get into an even more exclusive club (getting into YC).
I find it comical that the VC community thinks it is diverisifying its entrepreneurship base by backing the same network of people that moved from San Francisco to Austin or New York.
The truth of the matter is that capital might indeed be abundant, but it is going into much the same places it always has. The concentration of wealth and opportunity continues unabated.
I challenge VCs with all this extra money sloshing around to rethink the path to sustainable entrepreneurship. If this was the late 1800s, the money would all be flowing into steel mills in Pittsburgh and the emerging oil barons and tycoons in those cities that are very much ignored today.
I find it comical that the VC community thinks it is diverisifying its entrepreneurship base by backing the same network of people that moved from San Francisco to Austin or New York.
The truth of the matter is that capital might indeed be abundant, but it is going into much the same places it always has. The concentration of wealth and opportunity continues unabated.
I challenge VCs with all this extra money sloshing around to rethink the path to sustainable entrepreneurship. If this was the late 1800s, the money would all be flowing into steel mills in Pittsburgh and the emerging oil barons and tycoons in those cities that are very much ignored today.