Umar you write well and I agree with some of your comments. I however have a slightly different view.
In my opinion what most entrepreneurs lack is the business acumen. Developing a good product and building a profitable business are two different animals. Filling this gap is the biggest role VCs play in many cases. They bring in management teams and provide governance at the board level to keep things on track.
The funding requirements have changed tremendously too. With itunes and android stores the sales and marketing infrastructure is available at no cost. With Amazon cloud and other pay as you go services, processing infrastructure can be available at no to minimal upfront investment.
~best
Amir
Dear all -
My recent article for Washington Post on why we don't see any product startups in the developing world. This may strike a chord with several of you:
http://www.washingtonpost.com/national/on-innovations/a-tale-of-two-tech-startup-cities/2012/06/05/gJQAz6w6FV_story.html
Regards,
--
Umar Saif | http://people.csail.mit.edu/umar
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