Get Rich Slowly!

2012/12/17 at 09:00

Marco ArmentMarco Arment‘s new project, which he’s calling¬†The Pinboard Investment Co-Prosperity Cloud, is brilliant. As a counter to the typical get-your-investors-rich-quickly model of venture capital investment in startups, Marco believes that ”¬†social capital [not money] has become the bottleneck to success.”¬†Therefore, Marco is backing innovative projects with his own social capital: his ability to get “world to go look at what you made.”

Having worked in numerous startups (including one that refused venture capital), I’ve long been critical of the VC model of investment. My primary criticism is that it reinforces short-term, get-rich-quick thinking, not a view for the long term viability of the product or services. Marco holds similar beliefs and furthermore, he has the ability to help give a leg up to innovators who aren’t interested in, or aren’t appealing to, the venture capital model.