Joel on Fixing Venture Capital
Although his “software”:http://www.fogcreek.com isn’t as good “as some”:http://www.atlassian.com/software/jira (ok, I had to get at least one jibe in there!) his writing is second to none. Joel’s latest article on “Fixing Venture Capital”:http://www.joelonsoftware.com/articles/VC.html hits the nail on the head.
Everyone’s read the opposite article (“VC’s are gods – all hail, bow down and accept their terms”) but never have I read something that explained things that seem inherently correct, so clearly:
bq. The fundamental reason is that VCs do not have goals that are aligned with the goals of the company founders. This creates a built-in source of stress in the relationship. Specifically, founders would prefer reasonable success with high probability, while VCs are looking for fantastic hit-it-out-of-the-ballpark
