The VC model can be defined as:
a business model based on other people's money and labour utilising an asymmetric power position in respect to entrepreneurs.
It has been a while since my last post. Well, almost to date a year :-)
I have been involved with raising a funding for a start-up and getting a better view of the VC world. My previous posts still hold and my distilled wisdom in a word: don't. Naturally there are exceptions to the rule but those are hard to find if not impossible for the first-timers.
Anyway, if you are worried about the current economical climate you are right. Things are not how they should be. Unfortunately the reasons are deeper and worse than we would prefer to realise. If you a fan of Alan Greenspan maybe you like to hear it from his mouth: Gold and Economic Freedom. There's an excellent video that explains it as well: Money, Banking and Federal Reserve.
Here's also an excellent historical documentary: Part 1 Part 2 Part 3. The quality is not the greatest but the content is worth the effort. Note that you can also download the films and watch by Google Video Player.