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January 15, 2010 no comments

A penny for your thoughts – how much value does an idea have today?

I remember very well a meeting in the mid 1990s when a venture capital partner told me that “a good idea is worth a million’. 

He didn’t specify whether his bon mot was denominated in pounds, dollars or euros, but as an inventor of early stage technologies it was music to my ears.  Perhaps more importantly, he didn’t specify if this was a pre- or post-money valuation.  I suspect it was the latter – what he really meant was that backing a good idea with a million dollars to see whether it had potential was a good bet.  But even still, it definitely suggested that in the 1990s a good idea was worth something.

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