The usual figures on average ROI from AVC and Kaufman look weak.

The US NSF, NIH, DARPA, Air Force Cambridge, NRL, ONR, Army Durham, staffs of peer-reviewed journals, research university Ph.D. committees can evaluate research just on paper and do so with high accuracy. For the US DoD, from the Manhattan Project to the SR-71, Keyhole (like Hubble but aimed at earth instead of space and before Hubble), GPS, and stealth to the present, Hubble, Chandra, WMAP, and much more, projects that look good on paper commonly get done as planned by Lockheed, etc.

Bell Labs knew why they needed a transistor, put three bright guys on it, and presto, bingo, after WWII they got a transistor. They knew, had known, what the heck it was worth and gave it to the world. Had they had a royalty of a penny a transistor, then by now they would own the world and everything in it. They knew that.

Flatly, absolutely, positively, VCs can’t and flatly will not, Not, NOT, NOT, apparently under threat of instant, total evisceration by their LPs, EVER evaluate a project on paper. It appears that they couldn’t accurately evaluate a project for a lemonade stand. So, they don’t. That severely clips the top of any RoI they might want.

For the Manhattan Project the VCs would have said: “Interesting. You build and test the first one and get the second one ready, and for 1/3rd we’ll chip in for the gasoline for the Enola Gay.” Their best hope would be that the Manhattan Project was ready to fly the Enola Gay but just went broke and was ready to sell 1/3rd of the whole project for gasoline for one plane — vulture capital. It doesn’t make much money.

Dumbest people in the room, building, city, country, planet.

If I forgive you that means I’m offended. Being offended is for victims BRC! Semper Fi and Happy 4th JLM!

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Huge unforced error not including the USMC, particularly Force Recon. Can you ever forgive me?

BRC
http://www.themusingsofthebigredcar.com

Haha. Not sure how dumb they are but as mom used to say “you can’t buy class”.

The line of not being able to get laid in a Tijuana whorehouse, superb.

As you would say “well played”.

Just what is it about the VC business that attracts the dumbest fools in the room, building, city, country?

Great piece. These guys are creeps. I’m sure this is only the beginning.

The Big Red Car takes him and other creeps to task.

http://themusingsofthebigredcar.com/creeps-misogyny-tech/

Creeps.

BRC
http://www.themusingsofthebigredcar.com

#misogyny #creeps #mcclure #500startups