Basically what he said was that venture capitalists raised a whole bunch of money that they didn't spend during the last boom. This money is raised from investors and is given to the VCs for a limited time. The VCs make money from the management fees they collect for dealing with this money, usually 1 or 2% of the total amount. But, if they don't invest, then the money AND the fees get sent back to the original investors.
The time limit on investment is usually about 10 years. So if we say that the boom started around '96, then some of these limits have already expired, and the rest of them will expire within the next 4 years.
Use it or lose it. And the VCs will definitely use it.
We've solved the whole electronic voting issue up here in Canada too.
In Alberta we recently had municipal elections, and there was an electronic counting machine.
Here's how it works:
1. Fill out paper ballot by marking an X next to your preferred candidate and next to your preferred choice on any ballot measures.
2. Wait in line for about 30 seconds.
3. Feed paper ballot into electronic counting machine.
4. Leave.
The counter scans and processes the ballot and saves it to a memory card. So you have a scan of all the ballots the machine processed and the count. All the paper ballots are saved in a bin under the counting machine. So you get the paper trail and you get the quick counting too.
The machine was made by a company called Dominion Voting Systems who seem to have no web presence.
Slashdot Mirror
Basically what he said was that venture capitalists raised a whole bunch of money that they didn't spend during the last boom. This money is raised from investors and is given to the VCs for a limited time. The VCs make money from the management fees they collect for dealing with this money, usually 1 or 2% of the total amount. But, if they don't invest, then the money AND the fees get sent back to the original investors.
The time limit on investment is usually about 10 years. So if we say that the boom started around '96, then some of these limits have already expired, and the rest of them will expire within the next 4 years.
Use it or lose it. And the VCs will definitely use it.
In Alberta we recently had municipal elections, and there was an electronic counting machine.
Here's how it works:
1. Fill out paper ballot by marking an X next to your preferred candidate and next to your preferred choice on any ballot measures.
2. Wait in line for about 30 seconds.
3. Feed paper ballot into electronic counting machine.
4. Leave.
The counter scans and processes the ballot and saves it to a memory card. So you have a scan of all the ballots the machine processed and the count. All the paper ballots are saved in a bin under the counting machine. So you get the paper trail and you get the quick counting too.
The machine was made by a company called Dominion Voting Systems who seem to have no web presence.