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Let us praise the venture capitalists

Now, more than ever, what this country really needs is a vibrant venture industry that can get about its business of company creation and stellar returns for its investors without a bunch of barriers thrown in its way by Washington.

I had a small, Twitter-hosted dustup recently with Trevor Loy http://www.flywheelventures.com/index.php/website/flywheel_team/ , a pleasant fellow who, when he is not Twittering, brings truth and justice to the world via the agency of venture capital. Loy was hot and bothered over some turn of events in Congress having to do with immigration policy. Many entrepreneurs are immigrants, you see. And because venture capital equals entrepreneurialism, the proposed congressional action might harm VCs, which, in turn, would grievously harm the U.S. economy. This, Loy, explained, is because fully 21% of the U.S. economy is attributed to revenue earned by "venture-backed" companies.

Posted by Adam Lashinsky

Full Story: http://brainstormtech.blogs.fortune.cnn.com/2009/12/22/let-us-praise-the-venture-capitalists/

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