My problem isn't with the money, but what it means.
I've heard an argument that there's only the appearance, not the
reality, of startup activity in Silicon Valley. People are leaving
Facebook, Google et al, and setting up kind of boutique startups which
work as showcases for themselves. They may not even get the company
bought, just get themselves bought. The whole thing devolves into a
beauty contest. It feels like there's something sordid about paying to
enter a beauty contest.
Meanwhile, I've read that if one admits to VCs out there that one is
aiming to make a mere $50M, they're not fundamentally interested. That
doesn't scale round these parts, so what else is the funding path?
It was Tim Howgego who commented strenuously to me that what is needed
here in Edinburgh is not support to develop yet more startups; it is a
service that supports businesses that suddenly succeed, helping to
scale up their operations quickly and gracefully.
But Microsoft is not going to fund such a service. Google is not going
to fund such a service. Because that would actually help develop
businesses that might grow and shift to threaten them. But Microsoft
and Google will happily fund a lot of activity to support the
development of small, new startups. I wonder what it is that they
gain, here.
I would say to kids leaving University; become a wage slave for a few
years, see if you can stand it, get perspective, skills, contacts.
Wait, perhaps, until you *have* to do something. Because a passion for
something unsolved, burning you up, may be necessary to succeed. And
if you've got that, then sitting in a room full of people saying "it
would be good to have a startup, what innovative idea shall we have"
is not going to help much.
However, the consequences become harmful when kids out of college are
rushed into realising their startup dreams, with various
University-supported, innovation-funded schemes offering them a soft
cushion for the short term. The market for several-thousand-pound
modular robotic snakes sadly fails to appear in time, they burn out,
find hard times not much happier than student lives, and more
willingly accept wage slavery [not my term! dig dig]