Monday, March 17, 2008
Will Price Moves On: VC Industry Now Less Smart
Will Price announced last week that he will be leaving Hummer Winblad to join one of their portfolio companies, Widgetbox, as CEO. Techcrunch has the story.
I don't know Will personally. But I have read his stuff. It's good. Very good.
While every VC you will meet is generally pretty darn smart, Will is both smart and articulate. His blog articles are always well thought out, well constructed, and thought provoking. And, yes, I usually agree with him.
Anyway, the VC industry average IQ just dropped a few notches with Will's departure. It's unfortunate news for Hummer Winblad in particular.
As it turns out, if you're really interested in making money (and like to be somewhat in control), you have to be an entrepreneur and build a successful company. Sure, you can increment your way to a very nice retirement as a Venture Capitalist, but very few VC's can extract the kind of returns that a CEO will bring home from building a successful start-up.
So, Will has made Widgetbox one to seriously watch. I wish him all the success in his new gig.