I was happy to read yesterday that Guy Kawasaki is bringing some light on the realities of Silicon Valley, away from the hype and what the newspapers like to show on the front page.
And the timing is perfect, because this week I just received the special issue of Inc magazine where they give us some good statistics on what is happening in the trenches. The numbers give a good prospective on the relationship between VCs and Entrepreneurship - facts from their top 5000 (five thousand, no mistake here, this is what they give us):
- median amount of capital to launch the business $25K
- only 3% of the top 5000 received venture capital
Guy's plan B is right on: forget VCs if you can, this is expensive money anyway, and just focus on building the business with what you have.
Meanwhile I will keep working on the Entrepreneur Commons to help with the "Friend and Family" part, the initial funding that can make all the difference.
Wednesday, September 10, 2008
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