V.C 2.0

V.C 2.0

Nowadays there is talk about anything 2.0.  Not surprisingly in California people start to talk about VC 2.0, reforming the VC industry.  In fact it is already reformed, EVCA exploded and The Funded are now everywhere, the users (entrepreneurs) decide on which VC is the best (not a blabla forum).  But apparently this is not enough, Dave Winer has this magnificent idea post about VC 2.0.  Let the user decide. 

So let's start a new company, with Rick Segal as the CEO (if he'll 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 we're 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.
That's it. Never stop investing. All you have to do is listen to the users, who also happen to be the owners. How about that?

Yeah, count me in.  So who's going to do it?

Walter

P.S Rick Segal is the Canadian blogger behind Post Money Value (the VC loonie with the toonie)