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Tuesday, March 06, 2007

The 3 minute judgement – only VCs can do it !

It’s the same everywhere !

I was reading the report titled “ Pitch & Woo – Speed dating for Venture Capital “ by Constance Loizos of Mercury News regarding a so-called revolutionary interaction between Entrepreneurs and VCs at Stanford University. It started like this –

“In an interesting sign of the times, venture capitalists in search of big returns are no longer waiting for revolutionary ideas to come to them.

Instead, VCs from some of the valley's biggest firms came to Stanford on Friday night for a speed-investing event called VC3 to meet with budding, Stanford-affiliated entrepreneurs in an attempt to marry fresh ideas with financing.

Company founders spent six minutes with each VC -- three to pitch them and three for feedback -- as part of EntrepreneurshipWeek USA, a first-time national effort sponsored by hundreds of organizations to encourage entrepreneurialism in the United States…..”

You can read the full report here.

I am truly shocked. Are they VCs or some ordained, intellectually endowed prophets ? Even to get a hang of the idea in three minutes, either the VC must be endowed with something significantly more than clairvoyance or that its Limited Partners ( investors ) are smarting from their recent loot of Fort Knox for such a hurried deployment to be in order. Latter seems likely.
If none of the above, the VCs are just way too egotistical to be tolerated for long.
Stanford and its budding entrepreneurs are my candidates for coming year’s Nobel peace prize.

[ The report says one creep ( oh sorry, His Excellency - the VC ) was even fidgeting with his Blackberry even during those narcissistic three minutes ! ]

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