GOP Presidential Candidate Mitt Romney has called the work he did at Bain and Company that of a venture capitalist. The fact is that Mitt’s wrong and insulting venture capitalists along the way.
A venture capitalist is a person who invests in new startup companies beyond what’s called the “angle round,” which is the first investment and generally in the range of thousands of dollars; a venture capitalists invests in the range of the millions of dollars and in the second stage of investor rounds and beyond.
What Romney created and ran at Bain and Company was a private equity firm – that kind of investment banking company was depicted in the Oliver Stone movie Wall Street, where Michael Douglas played Gordon Gekko, who said “greed is good”:
For Mitt Romney, greed is good. So good he won’t even let you see his tax returns.
Stay tuned.
Bill Carroll