Gotta put that one on twitter ;-)

Thanks for the awesome article.

Mark

I also agree that VCs tend to reduce risk by betting on well known entities, but more than often, people that did it once cannot do it again. Joost is a good example of this. I would bet that if the Twitter founders try to do something else, despite the fact that they will get backed up by big VCs, they might not create the expected result.

Execution includes having the right people and the right skills. Venture capital folks, in considering a business to invest, tend to look at the leadership team first, even before they consider the merits of the business model and the product or service. If the team lacks the skills needed for success, a brilliant idea is likely to be poorly executed and will fail.