Venture Capital in Shanghai, China →
The opportunity was in my face. When I visited Shanghai I met up with Gary Rieschel, one of the top VCs in the world (he helped start Softbank). There he showed me a nicely profitable taxi screen company and we had to wait for nine taxis before we found one with his screen. I could have copied his business plan and made many millions of dollars a month all without coming up with an original idea and all without really causing his company much new competition. In China there’s a gold rush underway and there’s gold lying in the streets for entrepreneurs.
