VC Transparency

I have blogged about openness here before.  I find the lack of openness to be one of the obstacles hindering Turkish entrepreneurial development; and I have made it one of the principal tenets of the Istanbul New Economy Group.

Fred Wilson is an old acquaintance from New York.  His firm Union Square Ventures is my model for a modern web-based services VC. He and his partner Brad Burnham have been discussing how they use del.icio.us to sustain a dialog with the entrepreneur community.  In their specific case:

[Fred] was also inviting all of you to shape that thinking by tagging
things in del.icio.us using the tags for:fredwilson, for:ceonyc,
for:bburnham, or more simply and perhaps more efficiently, for:usv.

In Istanbul, there are many who disagree with me on the requirement for openness.  I wanted to point out the USV practice, and recognize it as the "big deal" that Brad calls it.  Venture Capital is an industry of idea-based competition.  One can argue that closely guarding ideas will lead to success.  USV is contending that sharing them will.  I agree with them.

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