http://www.unionsquareventures.com/2007/11/why_early_stage.html

“…Of the 26 companies that I consider realized or effectively realized in my personal track record, 17 of them made complete transformations or partial transformations of their businesses between the time we invested and the time we sold. That means there a 2/3 chance you’ll have to significantly reinvent your business between the time you take a venture capital investment and when you exit your business.”

Another great snippet:

“My friend Dick Costolo, co-founder of FeedBurner, describes a startup as the process of going down lots of dark alleys only to find that they are dead ends. Dick describes the art of a successful deal as figuring out they are dead ends quickly and trying another and another until you find the one paved with gold.”

My friend Kelly Smith over at Curious Office has blogged about a Financial Times article about the need for flexibility in any endeavor, but certainly any Internet related business.  It really is a great article and the FT has some great content, so h…