Serial Entrepreneurs: Itinerant Gunslingers

"Many of today's brightest innovators have become itinerant gunslingers fortified with venture financing. They hatch technologies, shepherd them into the marketplace, and negotiate 'liquidity events' in which their investors can cash out at a hefty profit, usually within five to seven years. Then they do it all over again...

'Their assumption going in is they're going to be sold, so they try to get their companies to $30 million, $40 million, or $50 million in revenue, rather than going for the home run," he said. ''If it's in your DNA to go for the home run, you're going to be frustrated.'"

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