December 13th, 2010
(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at: email@example.com
A conference on entrepreneurship in Spain became a place where people of high status could talk about how much they love entrepreneurs. Few entrepreneurs attended.
This is the thing, a banker that creates a startup competition thinks that gives him uber knowledge on their problems. Truth is, the banker never gets to talk with the entrepreneurs. Not the ones attending his program, not the ones elsewhere. An MBA person, with expertise in finance and buyout operations, that has being doing buyouts and M&A for large (> 100) corporations during the past 6 years thinks he knows entrepreneurs. But I wonder if he’s ever seen a startup with less than 3 people or even talks with entrepreneurs. I’m sorry but working with a corporation has absolutely nothing to do with bootstraping a company in the turmoil of a worldwide economic recession. A doctor working at a hospital has even less idea of what’s in an entrepreneur’s mind. Yes, he opened several new facilities within the hospital, but excuse me if that’s even remotely similar to trying to raise capital for a crazy risky idea. Then we have the typical VC profile. X years in a consulting firm doing private equity and M&A operations. Yes, you meet so many entrepreneurs doing that… and of course, regular VC has so many real interactions with entrepreneurs I just can’t imagine why I’m even writing this (for the record, there is sarcasm here). An finally, but not least, you have the MIT Enterprise Forum chairman. First of all, how can you even speak of funding in Spain when you’ve never started a company in Spain. It just amazes me how easy it is for him to repeat what others say with absolutely a complete ignorance of a countries specific problems. But most importantly, how is it possible that being an entrepreneurs himself, he allows this mummers farce to go on. Shame on him and shame on the MIT.
If MIT thinks that having such a sorry lot talk shit about how to help entrepreneurs, giving a talk with NO Q&A and call it “Forum” and most interestingly, stressing the importance of doing networking, but kicking everyone out to the street after the talk is done, then that’s the reason why most real entrepreneurs end up in California an desert Massachusets.