Who needs venture money?

Lengthy piece from Joel Sposky on why his company doesn’t need venture capital. That’s fine: 99% of companies get along just with without venture money. They don’t need the capital, and having venture folks on their board would just be a source of stress. Great, don’t do it.

On the other hand, venture firms are over-slagged these days. There are many folks out there trying very hard with remarkably little money and none of the old-boy connections to find and finance early-stage companies. It may not be your company (and I’m not speaking specifically about Joel’s comments here), but that doesn’t make them bad folks.