Subject: RE: VCs, FSB and the term "intellectual property"
From: "Anderson, Kelly" <>
Date: Fri, 5 May 2006 11:22:46 -0600

 Fri, 5 May 2006 11:22:46 -0600
> Without this "intellectual property", the VCs simply don't 
> have big enough chances of making those really big wins with 
> some of their investments that they need to offset the losses 
> they incur with other investments.

Venture Capitalism and Free/Open Software are two competing memes in the
space of developing ideas into useful technologies. It would not be
surprising to me if RMS and friends were not terribly excited about the
"competition". Downgrading the importance of patents, trade secrets,
etc. is a way to increase the importance of Free/Open Software over
closed VC Funded software. 
> Now there is a big difference of whether this "intellectual property"
> consists
> (a) in exclusive rights to patents, proprietary software or other
>     proprietary information goods
> or
> (b) in social capital, such as brand value and the willingness of
>     highly competent people to work for your business


  (c) Operational superiority. The ability to deliver "the goods" as it
> The goal of all VCs is that as many as possible of their 
> portfolio companies should be so successful that they can 
> sell their shares in those companies for at least ten times 
> more money than what they invested.  Of course, like all 
> humans, VCs will also have some interest in other goals, but 
> while working as VCs that must be their goal.  Otherwise 
> things cannot work out economically for them.

Right. That's why VCs that don't act entirely like VCs are called


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