How venture capital funds make money: why one big win pays for all the startups that fail
Why venture capitalists push startups to grow fast, even when it is risky
Your startup makes a small profit and grows slowly and safely. You are proud of it. Your venture capital investor is not, and asks you to take a much bigger risk.
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Three years in, your app works in 3 cities and makes a small profit each month. Slow and safe: you could run it like this for years.
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Miva wants 40 cities by next year: hire fast, spend fast, lose money for a while. If it goes wrong, your startup could be dead in two years. Why would your own investor take that risk?
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