Diane Mulcahy of the Kauffman Foundation isn't a big fan of venture capital. In an article for the May issue of the Harvard Business Review, she argues that VCs don't fund all that many startups, don't have the greatest returns, and are shrinking in numbers.
Her arguments are fine, as far as they go. But that doesn't change the fact that the best of the venture capitalists will still attract top entrepreneurs with big checks, connections, and services like marketing and recruiting for startups.
To read the original article: Venture capital gets a serious smackdown in the Harvard Business Review
