Reforming the VC Industry

Dave Winer has some ideas: “Lets assume so. So lets start a new company, with Rick Segal as the CEO (if hell do it) called User Internet Capital Corp or something catchier. File all the right paper with the SEC, and do an IPO. You have to, because were going to be selling shares to the public right at the start. This thing will be public from day one. The purpose of the company will be to invest in promising young Internet companies, chosen by the users, nurture them through startup, get them liquid through acquisition or IPO and distribute dividends to the shareholders accordingly. Retain some cash for overhead and (I insist on this) a small percentage for pure technology research and development, so there will be new ideas to base the startups of 2009 and 2011 on.”

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Rajesh Jain

An Entrepreneur based in Mumbai, India.