Venture Capital: Pennies from heaven

A SUCCESSFUL internet entrepreneur sets up his own incubator, offering convertible debt to a handful of aspiring imitators. So far, the script resembles many that play out in Silicon Valley and the like. But at $37, the funds dished out by Pinboard Investment Co-Prosperity Cloud are not quite up to the sort of venture-capital generosity that most budding entrepreneurs have come to expect.

Maciej Cegłowski, the benefactor and man behind Pinboard, a bookmarking service, is being facetious, of course. But in doing so, he makes a sharp point. Mr Cegłowski’s $37 is enough these days for six months of virtual-server rental at a hosting company and “a productivity-enhancing hot beverage”. That should be plenty to get the ball rolling on a good idea.

Read More at The Economist

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