STARTUPS: How often do you hear of a travel startup which has managed to boot-strap its way to becoming a fixture in the industry? Probably far fewer occasions than the endless coverage of companies that have raised X to do Y. But behind the scenes the investment world has changed massively over the years. Read the full story on PandoDaily.
The dramatic drop in the cost of creating a company over the last decade has had an obvious effect on the venture capital world.
Serious venture investment is not required in the earliest stages of a company’s life, so angel investors have been getting the best seed deals. That spawned "super angels" and their subsequent micro-VC funds, which in turn evolved into crowdfunding platforms like AngelList.
Meanwhile, old school venture firms with their ten-year investment vehicles and mostly mediocre returns are realizing that money is a commodity.
It echoes statements made by Fred Wilson of Union Square Ventures, who predicts that venture capital as we know it won’t be around in ten years.
Read the full story on PandoDaily