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The change (or lack thereof) in investor's interests and attitudes has an impact on entrepreneurs' incentives and ways of doing business and developing a startup. Indeed, the  entrepreneurs' mentality has also changed. While the VCs used to be willing to look for the next blockbuster idea as the best way to maxiize the return on their cash, it seems like now they rather build up a portfolio of mildly successfull startups, even if not life changjng. Now VCs want some sort of proven start ups, more late stage companies wanting to grow than early stage products in need of development. That means that entrepreneurs waning to get funding focus on existing ideas and try to improve them rather than change them radically. Who likes a contrarian? It is a hard sell! This has to bring me into rhe lean start up concept. The idea makes sense and it is rational, both from the investor and the entrepreneur's view.  Everyone is bound to lose less money if the product is better tested a...

Have people changed the way they look at incentives and are now more short term focused? It seems like people are still focused on making money as they always were. That is not an accusation, just a fact. Investor's ultimate goal was always a financial goal, whether that was measured by IRR, NPV, number of cars or else, a financial return is what it is. It is about making money. By nature capital is the end, not the means, therefore why would it care about second derivative outcomes. Why would money have to create jobs, new markets,breakthroughs? But if attitudes have not changed why are the outcomes different?   Transparency has increased people's visibility on how others make money and making a quick buck became more achievable but also more desirable.  Town heroes used be those supporting the village with jobs and businesses, not they are the billionaires.  Everyone would prefer to be a 'nice' billionaire but if not, a billionaire will do. Building s business used to...