Venture capitalists are professional money managers. We are provided capital to invest as long as we can return it to our investors with a strong return in a reasonable amount of time. A strong return is three times cash on cash. A reasonable amount of time is ten years max.

We need new medical approaches to preventing and/or curing disease. We need new scientific approaches to generating, storing, and being more efficient with energy. Maybe we need more space exploration. Maybe we need more undersea exploration.

Internet and mobile product development cycles are measured in months, not years. And the capital required to get a product built and into the market is less than $1 million. And the returns, when things work out, can be enormous.

Fred Wilson Quotes