The Future of High-Tech Entrepreneurship in Virginia

Pondering the NCTC’s Tech Expo on September 5, 2008 and high-tech entrepreneurship in Virginia in general, I asked Nicholas Carlson, New York-based Associate Editor of Valleywag, Silicon Valley’s Tech Gossip Rag#34 on Technorati’s Top 100 Blogs–this question:

"Got any wisdom or advice to share about ‘wantrepreneurship’ or entrepreneurship?"

It’s still who you know.  I became acquainted with Carlson while I lived in Tampa.  He answered (Thanks, Nick!):  "Boot-strap and watch out for VCs."

An excerpt from Carlson’s Valleywag post on VCs–garnering 14 comments:

So here’s a refresher on what [venture capitalist Jeff] Clavier and other VCs would prefer they [founders] do.

  • Ignore revenue.
  • Run out of cash.
  • Ask VC for cash in exchange for large handfuls of equity.
  • Ignore revenue more. Run out of cash, again.
  • Shovel equity in VC’s direction, asking for more cash.
  • Repeat steps 1 through 5.
  • Accept VC-picked board members.
  • Stop ignoring revenue.
  • Sell to VC’s friends at Google.
  • Don’t let door hit you on the way out.

Here’s a fascinating interview with Nicholas Carlson from Valleywag’s Secrets Exposed on YouTube on the development of New York’s high-tech economy:

What will be said about the development of Virginia’s high-tech economy?

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  1. Hey thanks for the awesome information. I’ve been checking out your blog for a ouple weeks now and I learn something new every time. What was your inspiration to start up your blog? You might want to check out these free excerpts from New York Times bestselling business growth book “The Answer” …

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  2. Thanks for leaving a comment, Ron. As for my inspiration to start Handshake 2.0, the answer could fill many blogs!

    Interesting links–thanks for those, too. Best wishes to you!

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