Leadership Article 3 Page 8

The Finnish firm failed to anticipate the smartphone revolution.

“They decided that they were getting the most sales from the traditional phones, so they focused on that, and the opportunity came and went.” (Lerner, 2012)

VC backed Startups know all about funding innovation. Both parties are clear about the risks. VC’s success in recent years has poured in from information technologies. But Lerner highlighted VC’s shortcomings: “a narrow focus” on specific “industries and geographies” (Lerner, 2012).

VC’s churn volatile waters, a feast−or−famine funding cycle is their mantra. Dependent on public markets for cash, VC’s want and expect quick returns. They’re ruthless, culling Startups too soon if they can’t