America has lost 8.5
million jobs since December 2007, and the unemployment rate is a
Some hope that new ventures can make up the hiring difference. But
given the state of the venture capital (VC) industry that backs
startups, those lost jobs aren't coming back anytime soon.
Without capital, companies can't hire people or buy machines. And despite having $200 billion to invest, the VC industry that funds startups is not doing the job. That's because, in the word of Harvard Business School Professor William Sahlman, VC "sucks." Sahlman gave this pithy assessment at AlwaysOn's Venture Capital East conference Tuesday.
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