The VC destroyed the Maker Faire and magazine because it did not make enough profit fast enough. Therefore it was more profitable for the VC to destroy the business and cash in the chunks left over.
Venture capitalists are shit no matter how you look at it. And they will take sustainable businesses and dismantle them wholesale to squeeze a few extra pennies.
I hope Make/Maker Faire will never again touch a cent of VC's money.
I don’t disagree that VCs and VC money is garbage and offered no real value here. The thing I don’t get is that Maker Media took the money at all. I understand believing in your business, but Make: subscriptions weren’t the next social network. There wasn’t that much growth to be had, and I’m scratching my head trying to figure out why Dale Dougherty thought there was.
There’s a LOT of overlap there. VC is one form of private equity. And increasingly, VC’s are willing to execute some of the more traditional private equity strategies which you’re likely attempting to reference.
The VC destroyed the Maker Faire and magazine because it did not make enough profit fast enough. Therefore it was more profitable for the VC to destroy the business and cash in the chunks left over.
Venture capitalists are shit no matter how you look at it. And they will take sustainable businesses and dismantle them wholesale to squeeze a few extra pennies.
I hope Make/Maker Faire will never again touch a cent of VC's money.