An article this morning on the front page of the WSJ Marketplace talks about VC firms performing ‘triage’ on their portfolio companies. The article profiled a small bay area firm Claremont Creek and my friend and MD at the firm, John Steuart.
Too bad the article was dumb. It could’ve gone in a much more interesting direction about the types of new businesses that are succeeding in this market and why. Instead it focused on the culling of the herd. It strikes me that one of the ‘benefits’ you get from VC money is a laser focus on results and a discipline of constant investor activism. The gist of the article was that in these tough times VCs are placing their bets in “A” companies rather than “C” companies. Shocker! Sort of sounds to me like what VCs should always be striving to do. Just goes to show that no crisis goes un-wasted.
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