HOW TO SPEND OTHER PEOPLE’S MONEY 101

“Fifteen years ago, if your company failed, it was a black mark on your resume. Now venture capital firms almost prefer it. You’ve got your scars, and you’ve learned some hard lessons.”

Steven Baloff, a venture capitalist at Advanced Technology Ventures, on the diminishing returns of the school of hard knocks, The New York Times, 20 September 1998

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