12 Jul '13, 3pm

The Politics Behind The New Winklevoss Bitcoin Fund

Today being an entrepreneur is not very different from being a worker 30 years ago. An enormous amount of people have to become entrepreneurs, and are becoming entrepreneurs, and they need investment. The power is really in the hands of capital. Yes, the entrepreneur is a hero but faced with Venture Capital you are really in a subordinate position. You have to sign contracts which give Venture Capital the right to close you down, you're forbidden to work in same sector if that happens, and you have a gag order so you can't even talk about it. It's not enough to do something good if your governance and ownership structure allows you to distort it. Avis bought Zipcar, which is the poster child of car sharing, and then you see the announcement of Avis when they bought it which talks about hourly rentals. So what you see here a clash of mentality. They don't see the collaborat...

Full article: http://www.fastcolabs.com/3014220/open-company/the-politi...

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