Word: vc
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Dates: during 2000-2009
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Venture capitalists, burned in the collapse of digital tech companies over the past year, say the only areas in which they are increasing their investments are security and biotech. That was the conclusion of a recent survey by consultants Deloitte & Touche. Biotech pulled in some $3 billion in VC funding over the first three quarters of this year--a third more than it did in the same period last year, according to the Silicon Valley consultancy Recombinant Capital. A San Diego-based company, Syrrx, even found itself turning investors away early this year after it had raised $55 million...
...attention, but they don't affect the way people use the web. A recent Pew survey showed that only 8% of web users say a favorite site of theirs has bit the dust. And a report by Forester research says that despite the Nasdaq swan dive and the VC drought, people spent $45 billion online last year, and they predict that figure will reach $75 billion this year. By my calculation, that's $75 billion more than was spent on the Internet, oh, ten years...
...open-code software-sharing initiative. The theory is that the arrangement will promote widespread use and higher revenues from licensing. Noble, but perhaps naive. "The venture capitalists simply freeze when they hear the word 'free,'" says Professor V. Vinay, one of the founders. "Some ask the standard VC question: 'What vertical market are you addressing?'" In other words, who will you be selling this to? Only politeness stops Vinay from telling them what a stupid question that...
...past, when other countries had problems, we trucked in 50 rock stars to sing about it. It's time to start thinking about ourselves. I'm imagining something like We Are the Economy. I hear Bono belting out, "There's an IPO after every storm/ a VC ready to lend a hand/ Just hold on, baby/ Hold on to your Janus Global Tech Fund, man." Also, it might be nice to join hands across the country wearing the same T shirt. It will let other countries know we're serious and organized, if a little fruity...
...Latypov brothers hope to follow Cybiko's model: manufacture in Asia, set up a management team in the U.S. and keep development in Russia. To start, they need $3 million in first-round funding. If they can make the right VC connections, and bring in the right management - and if more Russian scientists follow that example - then the country will have a shot at developing not only world-class technology but world-class technology companies...