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Venture capital is about capturing the value between the startup phase and the public company phase.

Whatever the potential pitfalls, banks are increasingly enthusiastic about venture capital, particularly in new companies with strong prospects in fields like health care and technology.

Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors.

The best early-stage venture capital investments appear obvious in retrospect; however, very few of them are actually obvious when you make them.

I've been a customer of the top venture capital firms, so I know exactly what they do and don't do.

Venture capital is always wanting to go up market.

Accounting does not make corporate earnings or balance sheets more volatile. Accounting just increases the transparency of volatility in earnings.

So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster.

One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times, they confuse VCs with their friends.