Email of the Day
Email of the Day comes from Sean, who doesn't seem thrilled with how VC funds have been lumped into the Hedge Fund Transparency Act. Specifically, he took issue with a Senate staffer, who told me: "The bill takes this approach to avoid getting into the impossible task of distinguishing between hedge funds, private equity funds, venture capital funds, and other types of funds, while providing a low-cost, reasonable means for the SEC to obtain basic information about these investment companies." Sean writes: *Impossible* to distinguish between hedge and venture funds? Any person who is unable to articulate such a distinction has no business drafting legislation to regulate these entities. This is a cop-out, plain and simple, and highlights the misunderstanding of the venture industry and its role in job creation. On the one hand, Sean's analysis seems obvious. It's hard to confuse a $2 million investment in WidgetWidget with a $300 million short of Ford Motor Co. On the other hand, the lines
