In an op-ed post in Sunday's New York Times, Tom Friedman rightly says we need to quit bailing out the losers and start dedicating resources to the innovators. However, he jumps the track when he says money should be given to venture capitalists to foster innovation. Venture capitalists have access to plenty of money. What they don't have is good, shovel-ready innovative deals.
I have run programs for entrepreneurs through the Kauffman Foundation for ten years.
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