> In Australia, Venture Capital as an asset-class destroys lots of > money.The track record is appalling. > > I can understand how that has happened.
When I went and approached VCs with my 'technology' years back I just got the sense that they had no actual idea what I was talking about. I don't blame them for that. There's other Aussie Technology like "Metal Storm" that had similar problems. If as a VC you don't know what something is, then how could you sell it. When I landed in the US, the depth of understanding amongst the commercialisers is vast. They took a look, counted up the number of unique aspects and gave the thumbs up on that basis. I won't give a 300 year history of "Venture Capital". But we are missing some essential components to make it work here that other countries have covered. So I am not bagging out the VC low success rate. Lets say that it's a new industry. What, 15 years old? Qantas (a success story) did a great job of getting Venture Capital that was appropriate at that time. I just noticed in the paper that some 9,000+ expat Aussies returned in December. The majority of them are battle hardened IT and engineering professionals. Nice to get more down at drinks for hearing stories -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://groups.google.com/group/silicon-beach-australia/msg/351e183e1303508d?hl=en%3Fhl%3Den No lurkers! It is expected that you introduce yourself. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
