5 comments posted · 200 followers · following 4
I still feel that, with few exceptions, VC itself doesn't scale. Of course the incentive for VCs is to raise more money than needed so they can take in larger fees. That, in turn, puts further distance between the desires of LPs and GPs.
I am reminded of Warren Buffett's idea that the investors should only make money if their investments do well (I believe his first "fund" was structured that way). Clearly the VC business, on average, has moved away from that idea and needs to come back to it.
What we have seen through history is that innovations are "subsidized" by elites in the early days since they can afford the large price tag. Over time as the innovations become less costly to produce they diffuse through the population enriching everyone in some way.
Another good example would be cars: today most people in the US own cars but 100 years ago most of the car owners were very wealthy elites. If we use Keen's thought process back 100 years ago we'd assume there would be car owning elites today that would oppress the people who don't own cars. Of course, we don't observe that phenomenon today.
Keen simply doesn't take his thought process to "equilibrium" (or factor in competitive forces) nor does he take into account the decreasing price of innovations over time that promote the diffusion of said innovations into the populous at large.
On another note I should mention that this event will be very special in that it is also a pilot event to test a partnership we're working on with the DEMO conference.
The DEMO folks are helping us with logistics and finding sponsors which they have a lot of experience with. This really helps take some of the burden off of Frank and I since TC is still a two man part-time show.
Looking forward to seeing the best of Boulder tech on March 6!
I hope things will get better over time with the kindle and devices like it in terms of a more open ecosystem though. This is just the first shot at something like this. It is like web content was before the movement to free up content and open up the walls.
Big content producers (in this case book publishers) have to get comfortable with the idea first and then we can push them to what's right. In fact, since Amazon has so much power in the book sales ecosystem they can push to create a more open ecosystem and the publishers should listen (one would hope).
Generally though I think I would like the device as a way to manage all of my books and an easier way to travel with them even though it is a bit restrictive.
Its really a decent (maybe even good) book reader with a lot of other ill conceived features. Its not perfect but it is interesting and it should shake things up one way or another.
When you click on the comment list from a post of the main page and that post doesn't currently have any comments the user is brought to the permalink page (of course). The formatting then messes up a bit so that the user is left at the bottom of the page past the comments which would frustrate me if I wanted to comment.
The formatting is also a tad off on the posts with comments (comment box is too long, etc.). Any ideas guys?
Once I get the formatting fixed I know I will love this thing.