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December 16, 2011

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Paul Jozefak

Cem, here's the key point: "In my opinion, internet businesses have no obligation to be creative." Sure, one can argue about whether innovation is lacking when it comes to clones (or sequels in film). Yet, one has to argue that we as VC's have a fiduciary duty to our LP's of generating returns. Whether we do so via innovation or clones doesn't bother them one bit. Same goes for the financiers backing films and their sequels. There's a clear distinction between business and creativity. They can work with one another but oftentimes they work against the other and this is what leads to market cycles.

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