I read your article Doctor at Large ...
I read your article Doctor at Large (see the Business Journal, Oct. 8, 2001) with interest and a bit of dismay. It is not right that Dr. Piotr Olędzki currently owns only a small percentage of the business that he founded, built, and developed (and still is developing). This is not how the venture capital model should work. The reality is that cash is a commodity and talented, hard-working people are scarce. An entrepreneur should be allowed to retain at least 25% of his company until he wishes to sell his stake. Jim Clark (of Silicon Graphics, Netscape, & Healtheon fame) thinks entrepreneurs are entitled to more (see the book The New New Thing: A Silicon Valley Story, by Michael Lewis).
Editors response:
While the Business Journal agrees with Mr. Hunter that cash is a commodity and talented, hard-working people are scarce, it would be a perfect world indeed if every entrepreneur managed to retain 25% of what he set up. Paul McCartney, who doesnt own any Beatles records, has to ask for permission to perform the music that made him famous.
