How wonderfully loony. Now that we have Web 2.0, Dave Winer is proposing CMGI 2.0 to go along with it. He is apparently serious in suggesting that the best way to reform the venture capital industry is via a pool of publicly-traded capital to be invested in “promising young Internet companies”. The twist? Rather than being run by those nitwit professional venture capitalists, this one will be run by the users.
No, I have no idea what “users as owners” means either in a venture capital context, but CMGI 2.0 sounds like a lovely short. Do it. Please.