It's been pretty fascinating to watch how many strong opinions have been expressed over the past couple of days regarding Fred Wilson's "two VCs" post (and then some others pointed at me after my response to his post). So I thought I would paraphrase some of what I heard (note: mostly NOT from Fred, but from others who've piled on) and give some replies.
Rob, are you saying Fred is wrong?
No. I totally agree with Fred that there's an important divergence of two very different approaches to venture capital right now -- the lean VC (put as little capital as possible to work in each company, grow it quickly and as low-cost as possible, and then sell it as early as possible),...