See correction at end of article.
AUSTIN—Two missives penned by Austin entrepreneurs pondering the state of the city's venture capital have gone viral in business circles.
In a Medium story posted on Feb. 15, Richard Bagdonas, founder of the Operation Turkey nonprofit, wrote about the disparity between San Francisco and Austin investors: "Recently an Austin-based venture capital firm offered my company $400k for 40 percent of its equity. This was one week before their counterpart in the Bay Area offered $2MM for 20 percent of the same company. Nothing had changed in that week and both received the same pitch and deck in the weeks prior."
Image: Joah Spearman, CEO of Localeur LLC, said his company was considering leaving Austin because of the difficulties it faced raising capital. Submitted
