The recent wave of success, introductions, and positioning around media has investors doing more than investing. The meltdown of 2000 came about primarily through circular relationships: ie, a consulting company would create a "workshop" to explore an idea, participants would include a VC, entrepreneur, etc. Several "fundable" ideas would be hatched. A company would be funded. And, of course, the consultancy would then be hired to build the site! Hmmm... Now this, from PaidContent.org:
Social Media Site Jacked Gets $0.5 Million Funding [by Rafat]
Stealth social media site and service Jacked, launched by former American Greeting Mobile head Bryan Biniak, has received $0.5 million in seed funding. The round was done by the new VC firm Provenance Ventures, also founded by Biniak.
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