Silicon Valley entrepreneurs are trading in their PowerPoint decks for picket signs after negotiations broke down between the Entrepreneurs Guild of America West and the National Venture Capital Association.
Venture capitalists acknowledge that the Internet’s growing quickly and is going to be big, but argue it’s too early to tell just how profitable it will be. “We don’t know yet if there’s real money to be made on the Internet.” said NVCA President Mark G. Heesen. “Venture capitalists need to get a least a 2x participating preferred liquidity preference and no income tax on carried interest to prevent innovation from being stifled.”
Entrepreneurs Guild President Marc Andreessen has announced that entrepreneurs may not write any more business plans or wear sandals with Velcro straps until the strike is over.