I don't believe in the pay to pitch model at all (see a recent post on the topic here: http://www.sethlevine.com/blog/archives/2009/11/5... When Koby asked me to speak at a "wireless conference" I looked up some of the other events YoungStartup put on and Googled them - they appeared to be running normal (i.e., sponsors, charge attendees and companies come for free) conferences. I didn't even think to ask about asking entrepreneurs to pay to participate (sad that these days I really do need to clarify that before committing to speak somewhere). That's completely on me and it sickens me to have my name associated with a practice that I both abhor and have spoken out strongly against. I've asked Koby to clarify his model to me and made clear to him that I won't participate in an event where entrepreneurs are footing the bill. You're right to call this out and I apologize for my participation - even though it was unwilling - in a pay to pitch scheme.

seth

sure. seth[at]sethlevine[dotcom]

go for it!

Thanks Brian. Interesting to see the actual Bessemer numbers. Underscores that it’s a good idea to have a few options…!

i agree that the state budget and constitution process are deeply flawed. and in a time of constricting state revenue (like now) it becomes extremely difficult to find ways to raise money. i’m not familiar enough with the ins and outs of the state budget to offer a specific solution, but would point out that 1) if the state can offer ~$50k tax rebate to buyers of an electric sports car we can think of something more creative than taxing one of the state’s real growth engines (tech) and 2) this tax will result in lower overall receipts for the state as businesses quickly move projects (and people) out of Colorado.

Maybe we should all go back to being farmers then (without machine tools)? Your logic is not flawed - it's completely wrong. Innovation and technological advancement have significanty increased the quality of life for Americans. Whether you support thistax or not, at least base your argument on reality.

we don’t force anyone to stay here after getting their education in the US. i’m simply suggesting that we not force them to leave. i’m a huge believer in entrepreneurship as development aid and the world is full of compelling examples of people helping their “home country” both by working here in the states and amassing wealth which they use for good back home and/or going back home and directly helping their native countries. the “balance” should be a market balance, not an artificial one imposed by the government…

i figured someone would pick on that point, derek. it surely deserves its own post. while i think there are arguments against treating carried interest as long term gains (principally the question about “capital risk” that you bring up), comparing venture capitalists to bond holders isn’t one of them. vc’s are typically extremely involved in the building of the companies in which they invest, bondholders are passive … and have a security interest in the assets of the company, etc.  

unbelievable. while the entire system has problems (we should be letting many more people work here), this kind of story really highlights how broken it really is.

btw, my father worked at clinical microsensors (which motorola bought a few years ago) – so i’m also sympathetic to the problem your company is trying to solve.

good luck. i applaud your efforts!

i’m thankful tim tweeted it as well! thanks for the comment. i think we often forget that small business is the engine of growth for this country (we celebrate our large companies much more than we do smaller ones). i hope the government uses some of that remaining 70% for job training, small business loan programs, etc.