“The VC model is a kiss of death for any company who a) is trying to do something remotely new, and b) is trying to build actual value instead of just building a bank account.”
This is just one of many responses from an article entitled “Venture Capital Is Going to Murder Medium” Please read the entire article- it is very informative about the true nature and effects of VC backing.
Peruse the comments to see how many founders and technology workers with extensive experience feel about the sentiments expressed in the article.
It is a mistake to believe VC funding gives something credibility. First, most VC backed investments fail (75%). Secondly, remember Wikipedia? No VC funding and they somehow made it. It also seems that they have a legitimate purpose.
The entire spirit behind the7th.us, is that people don’t have to simply wait for big corporations (i.e. VC) or big media to tell them that they need something or that something should exist. (Though many people have been complaining about the problem that we are trying to address for a long time.) Simply put, the7th.us will exist if people want it to. We are building the product now, but we are also trying to see if people support the mission and the idea behind it. (We have been greatly encouraged by all of the positive feedback, likes, and shares, including yours!)
At the end of the day, we are building the7th.us to fill a gap on the internet for its users, not VCs. Please don’t fault us for this!
The ultimate and only validation of any idea, product, or project like ours, Larry Couch, is if people are willing to support it.