Celebrating non-venture-backed companies
Posted on 05 March 2014
I get so tired of the web / tech industry’s constant praise of venture-backed companies (especially those in San Francisco) that have no viable business model and then sell for ludicrous amounts of money, only to be shut down because — guess what? — they haven’t thought about how to make money. So it was extremely refreshing to see Hunter Walk write this on his blog:
[…] Our proclivity as an industry [is] to demean these smaller companies as ‘lifestyle businesses’, which suggests an easy path, a coasting team, the four hour work week. Bullshit. These companies represent the majority of entrepreneurs across the US and should be celebrated. […] So RIP calling anything not venture-backed a ‘lifestyle business’. Go build your business the way you want.
Amen to that. What’s especially refreshing is that Hunter is actually a VC.
(Via Sean McBride.)