[gschill21]

I do a lot of work with record labels. VCs are incredibly different than labels, labels do not support innovation...they support packaged hits/artists and are on the way out. But I disagree with the comment, "Imagine record labels staffed with nothing but the people from successful bands, using their money to give other artists a faster way to the top." - Not all VCs are staffed with successful entrepreneurs (some not even entrepreneurs) - I mean what even defines a successful band? By your logic - that would be hits and money - which is no longer an appropriate way to judge.

[dbalatero]

I think the phrase is quite apt if you remove the "successful" qualifier. Most likely this was just an oversight in his writing.

"Imagine record labels staffed with nothing but the people from bands, using their money to give other artists a faster way to the top."

This actually resonates with me deeply, as the record label I just launched (http://tableandchairsmusic.com) is staffed with 14 out of 14 artists, and we re-invest 100% of the money we make back into helping our artists grow. I wouldn't say we're successful yet, since we just launched last Saturday, but we are in extreme support of innovation :)

[nickpinkston]

VCs like packaged shit ideas as much as labels like packaged shit music. Is Zynga really helping the world or just great at turnng shit to gold? That's Kleiner's "best peforming" company! (as of when Doerr was interviewed)

All the VC "Innovation" speak is just part of an abstraction of how more money is generated from less money. Most VCs are as faddish as any label trying to find the "new sound" - and are about as good knowing what "innovation" is...