Yin-and-yang of no from a VC

Tim Oren writes how VCs pass cool technology based plans, which usually leaves entrepreneurs in a baffled state of mind. Its great to see somebody from the venture community taking pains to elaborate on their thought processes.

Though it would be nice to get similar analysis by taking enterprise software application market as an example. There I have heard reverse argument that given unique understanding of the market problem anybody can write a software ! How long can you keep your unique insight under the wraps ? There good understanding of the business problem and initial interest from prospects is not enough one needs to have a defensible (read cool) technology as well.

Net of it is that you got to have both - good business model(how to make money) and a cool technology (unique defensible offering).

And while you are watching market cycles to make a perfect entry also pray that your market sector has a possibility of getting lucky (as those who are in compliance, security etc are finding now).