America was built by entrepreneurs who failed often, learned much and pressed forward despite significant obstacles.
America was built by entrepreneurs who failed often, learned much and pressed forward despite significant obstacles. As we look toward economic recovery, coupled with ever increasing global competition, not only must American citizens embrace this spirit, but so do our government leaders.
We all need to re-commit ourselves to supporting innovative growth sectors that can guarantee our economic leadership for decades to come — despite the challenges we are likely to face. Anything short of that is like falling down and remaining there — while the competition runs on by.
If the venture industry was the only source of financing for highly innovative but high-risk energy companies, the answer would be simple: Press forward. Company failures, and large ones at that, have always been a part of the venture capital business model – a model that has worked to create with entrepreneurs our country’s most innovative industry sectors — including semiconductors, biotechnology, Internet and software.
Our losses have often been significant, but our successes have been tremendous. Venture capitalists have remained with companies and sectors for the long term and that that commitment has translated into amazing economic value.
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Source: Joshua Green, Paul Maeder and Ray Rothtock | POLITICO