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April 16, 2006

Call for a VC union

Peter Rip has a very funny April 1 call to create the International Brotherhood of Venture Capitalists (IBVC).

Before you scoff at the idea, consider the advantages of organized VC labor. The role of a union is to improve the lot of its members. Pay, working conditions, work hours, and job security are all demonstrably better for union workers. If we are successful in our fight for the common VC, we could have any or all of the following:

* Better Job Security – Because Ten Year LP Agreements are clearly not long enough
* Shorter Work Weeks – Too many of us are forced to toil 7x24 (7 hours a week, 24 weeks a year)
* More Time Off – Why stop doing deals for just August and December, when there are ten months to do your two deals a year?
* Better Working Conditions – Who isn't tired of the menu at Buck's, really?
* Collective Bargaining – Appoint the Senior Managing Director to be your Shop Steward and negotiate all investments in complete collusion.
* Better Pay – Because a 20% participation of zero is still zero, we clearly should have higher fees.



Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.