There's a wonderful Op-Ed piece by Tom Perkins, one of the founder of Kleiner-Perkins, Caufield & Byers, in the WSJ today. Tom highlights the key differences between venture capitalist and investment bankers in a piece titled "Silicon Valley is not Wall Street".
Tom is an incredibly thoughtful guy – my few interactions with him over the years were when he was Chairman of Tandem Computers – a company he funded when Jim Treybig proposed the concept of a fault tolerant computer. Tom's insights and guidance helped many companies over the years.
If you haven't seen it, the article is well worth a read. The true source of innovation in our country is the entrepreneur. Venture capital might be the fuel that helps the company get going but the real star of the show is the entrepreneur.
Government can help best with a gentle hand, not broad legislation with unintended consequences that are worse than the problem it attempted to solve.
We need to get innovation thriving again!