This phrase has become famous around the world for different reasons.
Some use it to lament at the lack of ambition in humans, or their inability to achieve their dreams.
Others point to the fact that Venture Capitalists are quite risk-averse, preferring funding a company like Twitter (which initially limited tweets to 140 characters) rather than bold initiatives that would radically change humanity’s future.
Apart from a limited number of luminaries, who mostly invest their own money – Elon Musk, Vinod Khosla -, it’s hard to find VCs with a truly long-term vision. Most VC funds have an eight-to-ten year life, which is not enough time to make an invention such as flying cars be made and sold profitably.
Why do you think VCs can’t term long-term bets (> 10 years?)? Do you know some who do?
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