It seems, at first, like the logical next act in the classic entrepreneurial script. Having developed your software company on your home-built microcomputer, you pack your bags and set off on a pilgrimage to the venture capital Mecca of San Francisco in search of the help you need to turn your creation into a multi-million-dollar enterprise.
Venture capitalists make you too ‘now’ — too profit-oriented, instead of quality-oriented. You introduce factors with venture capital that don’t really help build any company. As an entrepreneur you want to use your profits to do the things you want to do, not to please some investor who’s screaming, ‘Fifteen percent or you’re out!’ .