Or why having seemingly in-market giants is no barrier to entry Great post on risk-averse VC’s – ie. they are in the wrong business and should be bankers instead.
That’s the way you do a startup, put together the bare bones of your system or some kind of tangible demo, get someone that has money that they are willing to loose, and that is also a true venture capitalist ie, someone that is not ‘risk averse’ but who likes risk, is interested in new ideas and is willing to take a bet.
Google was initially funded with $100,000 that was simply handed over to them as you would lay down money on a poker hand. That is the true spirit of risk taking.