Is Venture Capital Broken?

June 24, 2010  |  

(Read Write Web) — When angel investor Chris Sacca announced the launch of his new investment firm Lowercase Capital on Friday, he positioned the news with a lengthy essay – the firm’s “creed” – titled “Venture Capital is Broken.” In it, Sacca observes that ten years ago, it cost over a million dollars for a tech business to launch, with steep hardware, software, office, and Internet costs, not to mention the “lavish parties so print media would write about their pipe dreams.”

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