In fact, just about the only good thing pigeons have ever done, First Round would argue, is to star in its very favourite credit crunch joke (viz. ‘What’s the difference between a pigeon and a banker? A pigeon can still put a deposit on a Porsche’)
Anyway, there are some important lessons for private equity types here. One, having a group of entrepreneurs going into bat for you on wealth taxes is an excellent strategy, because it takes a brave (/stupid) government to set itself up as an enemy of the job-creators. And two, next time you’re thinking about forming a pressure group, eschew the tired old acronym approach and call yourself ‘The Chumps’ instead.