Why There Aren’t More Googles

Paul Graham provides a damning and insightful look at the state of the modern VC.

Choice quote:

‘Of course, the reason startups do better when they turn down acquisition offers is not necessarily that all such offers undervalue startups. More likely the reason is that the kind of founders who have the balls to turn down a big offer also tend to be very successful. That spirit is exactly what you want in a startup.’

(image via here)

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