2013-03-04 Boost VC Welcomes Bitcoin

[n8rwJeTt8TrrLKPa55eU]

Another VC (in this case, incubator) firm jumping onto the accelerating Bitcoin train.

Between five and seven slots of Boost’s June class are being reserved for companies relating to Bitcoin.

http://adamdraper.com/post/44563343164/boost-vc-welcomes-bitcoin

This is big.  The VC community has lemming characteristics, and "Draper" is a big name with a long history in the valley.  I expect other VC firms will now start to feel real pressure to have their own "Bitcoin Strategy".  The gold rush is starting in earnest.  $36 is peanuts.

[Spaceman_Spiff]

Nice, shows again how early we are in adoption phase.

[TraderTimm]

This is important. Venture Capitalists are the most cagey investors on the planet. If they've decided to look into bitcoin, then that means we're truly going to see a whole other level of interest.

This also paves the way for their clients to see performance and want to compete in the same space as well. Every VC loves to brag when they've hit a good return.

[elux]

"Draper" is a big name with a long history in the valley.

Big name you say?

Tim Draper - Founder of Draper Fisher Jurvetson

• 3rd generation venture capitalist, funded Hotmail, Skype and Baidu
• Created the DFJ Global Network, the first international network for early-stage venture capital
• Inventor of Viral Marketing

Boost is run by his son.

[cedivad]

Guy is claiming to be the "inventor" of viral marketing? Naaa....

[elux]

Guy is claiming to be the "inventor" of viral marketing? Naaa....

"Arguably." 

Tim Draper is arguably the creator of "viral marketing."[2] His idea to use "viral marketing" in web-based e-mail to geometrically spread an Internet product to its market was instrumental to the successes of Hotmail and Yahoo! Mail, and has been adopted as a standard marketing technique of hundreds of businesses. Although Draper coined use of the term "viral marketing" in connection with Internet services and was among the first to document the phenomenon in writing,[2] several arguably "viral" campaigns preceded Hotmail and Yahoo Mail!'s use of the technique (for example, MCI's Friends & Family Plan launched in 1991, a full 5 years prior to Hotmail's launch[3]).

Also, this just in: http://adamdraper.com/post/44716756659/bitcoin-company-ideas

[apetersson]

the irony i see: IMO most bitcoin startups will manage just fine without any serious funding. at least in the initial phase.

how much seed capital did mtgox need to get the first exchange online? bitstamp? bitpay? satoshidice? silk road? answer: hardly any. please correct me if im wrong.

no, they require some "free" time and lots of dedication, dedication, dedication by skilled people. Of course those VC sort of fear they will be left out and are now actively reaching out to new bitcoin entrepreneurs.
If they are unlucky they will attract "oh free money nice kthxbye" people.

[Gabi]

Yup, that is one of the things i like, the fact that the revolution is happening without funds, investment, grants, whatelse from the government and with public money from taxes. Nothing was given to us by the government, NOTHING. And, despite that... look what has been created

[Gabi]

Well then we should include who invented the cpu, the hard disk, internet, the electricity...