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Disrupting the Venture Capital Industry: "All venture capitalists (VCs)  SAY that they like to invest in disruptive technology; some VCs (the best ones) actually do invest in disruptive technologies.  So it is certainly a fair and relevant question to ask whether new technology or other changes will disrupt the venture capital industry. And, fair and relevant or not, the discussion has broken out all over the blogosphere. [Note: This post and the ones I quote below are only about venture capital as applied to Internet and software technology; other industries have very different capital needs.] Vastly oversimplified To oversimplify what he is saying, VC Rick Segal blogs that a VC used to provide both a Rolodex full of contacts which the entrepreneur himself or herself doesn’t have but badly needs and the boatload of cash required to execute on an idea.  Now, Rick says, the blogosphere is the Rolodex through which customers, supporters, and investors can be mobilized and new technology including free and software and services for almost any purpose as well as very cheap hardware often reduce the money required to what an entrepreneur can float on her or his credit card.  Rick says his own daughters have business ideas which they don’t seem to need him to fund. He interprets this as a wakeup call. Chronologically in betw"