[spolsky]

Union Square Ventures, of which Fred Wilson ("the OP") is a partner, is an investor in my startup (Stack Exchange). They never put pressure on us to generate patents. They have been consistently anti-patent for quite some time. They have complained frequently that a third of their portfolio is under attack from patent trolls. They have organized fundraisers and meetings which I have attended with Senator Chuck Schumer from New York to press their position for patent reform.

Maybe YOUR stone-age, backward-ass VC thinks that startups should generate patents, but don't tar Fred Wilson with that brush.

[brudgers]

As a publicly traded company, Yahoo does not have the same discretion as a company like StackExchange.

I also suspect that startups capable of the sophistication StackExchange brings to the selection of a VC are a distinct minority.

[CPlatypus]

I got tired of this and other VC games after my tenth startup a couple of years ago, so I guess it is possible that attitudes have changed. Even if Fred is one of the good guys, though, I'd still bet that he's in a small minority. That's the real point, which of course has been missed by most of the responses. Pick a random startup and go look for patent applications. Most of them clearly are pursuing that strategy, and most of those are likely to be doing so at the behest of their investors. This has been going on for many years, so why is it suddenly evil when Yahoo! does the totally inevitable? Is there seriously any reason to believe that Etsy or Twilio - USV companies for which I've already found applications - wouldn't? This kind of thing won't stop until people like Fred refuse to invest in companies that are pursuing patents without a binding commitment to use them only in defense, and for all their strong words they don't seem to be doing that.