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This post by 500 Overlord Dave McClure was originally published on Reuters . No apologies for shameless plugs and links on several of our 500 Startups we believe embody these trends. 1. (Way too many) Groupons, social games and photo-sharing apps
From its post-WW II beginnings to the mid ‘90s, small-to-medium size venture funds ($100m-$400m in today’s dollars) dominated U.S. venture capital. They launched much of the tech industry. Angel money was limited, and later stage funds were few. So VC was a bit like a prosperous gentleman: thicker in the middle, thinner at the top. Rich VC returns of the late 90s caused investors to pour in capital, producing the billion-dollar venture fund experiment, which was mostly a bust. Funds scaled down in the early 200X years, tried to get bigger, then were beat down by the 2008 financial crisis, or so I thought.
Everyone knows about Silicon Valley. Or do we? The term is tossed about with élan, abused by public leaders , and touted by experts as a model, panacea, or Shangri-La of entrepreneurship . Headlines with catchy titles, such as "Africa's Silicon Valley to be Unveiled in Nairobi" and "Kazan (Tartarstan) to Set-Up Innovative Ecosystem Similar to Silicon Valley," are found in every major news source.
http://techcrunch.com/2011/05/25/top-10-vc-firms-investorrank/
(Editor’s note: Robert R. Ackerman, Jr. is the founder and managing director of Allegis Capital. He submitted this story to VentureBeat.)
Yesterday there was solid progress on the Startup Visa Movement – specifically making it easier for foreign entrepreneurs to start their companies in the US. The WSJ had a good summary article titled U.S. to Assist Immigrant Job Creators that discusses two formal communications from the Obama administration. There are additional guidelines listed in detail at the following links. I’ve been working on this issue since I wrote the post The Founders Visa Movement on 9/10/09 (all my posts can be seen in the category summary Startup Visa on my blog). A number of colleagues throughout the entrepreneurial community (entrepreneurs, angels, VCs) joined in on the effort as it became a formal grass-roots movement, resulting in several bills being drafted in Congress in 2010 and then 2011.