Wow. Umair Haque really called out a TechMemed piece by Bill Gurley. Both pieces were well worth reading. One of the reasons, I love reading Umair is that I had a different take on Gurley’s article. I’ve been fascinated by digital goods for some time, but Umair hits home it up when he says.
We can’t reinvent the economy without, well, investing in reinventing the economy. So here’s a distinction you might want to draw. VC 1.0: “monetizing”, aka selling the same old mass-produced junk to tuned-out “consumers”. VC 2.0: seeding better economies, industries, and markets for a 21st century bereft of value creation, aka radical structural transformation.
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