Comments on: Don’t forget the Community

By: Gabriel

Gabriel — Thu, 16 Apr 2009 14:07:16 +0000

Good points Daniel. The problem is definitely trying to find a model that can support a system that builds quality entrepreneurs.

The good thing is unlike pro sports there is much more room at the top in business. I’m not sure that the end goal necessarily needs to be creating multi-millionaires, but allowing people to do what they love to do while living a comfortable life and creating jobs for other people to do what they love to do.

I can’t believe that anyone is advocating trying to foster newbiepreneurs from grade school, but there must be some level before “farm team” before “techstars” that can benefit from the collective laser specific knowledge of seasoned entrepreneurs to build profitable ventures.

Unless we leave it up to our Universities?

By: mtltech

mtltech — Thu, 16 Apr 2009 05:56:54 +0000

[mtw] Don’t forget the Community: There has been a lot of great chatter going on the last few days regardin.. http://tinyurl.com/ckjpva

By: Montreal Tech Watch

Montreal Tech Watch — Thu, 16 Apr 2009 05:55:41 +0000

Don’t forget the Community http://tinyurl.com/ckjpva

By: Daniel Haran

Daniel Haran — Thu, 16 Apr 2009 02:06:47 +0000

Funny you’d use Hockey for an analogy. It has to be the antithesis of what we aim for as far as success ratios: tens of thousands of youth pour in massive time and resources, and only a few make it to the big leagues. Nowhere near 2 out of 10 good hockey players make it; some coaches would love those odds.

The fundamental question is: what kind of risk/reward curve do we want? It shapes the support systems we need to put in place. Do we want a majority of losers, and a small minority of super-rich? That’s what we have now. Or do we want more than half the people entering the ecosystem to be millionaires and most making out just ok?

Looking at the track record for YCombinator, it seems your odds there are much better than 1 in 2 to get bought out, but their median exit is tiny by typical VC standards. Those whose startups fail don’t seem to fare too badly, either.

I prefer the YC odds. From an economic development standpoint, it would make far more sense for Montreal. And it means we different kinds of support – perhaps much cheaper than might otherwise be assumed.

Or we can continue with our silicon inferiority complex.