The Need To Reinvent Venture Capital

The good news about Schumpeter’s creative destruction is that, thanks to the Internet and digital tools, it has never been easier to start a company. One study found that the availability of open source software, cloud computing, and the rise of virtual office infrastructure has driven the cost of launching an internet venture down from $5,000,000 in 1997, to $500,000 in 2002, to only $50,000 in 2008.

Read the full article in The Huffington Post.