Hacker News Reader

This article is absolutely spot on.

I often get asked why I chose to incorporate in the U.S and take investor money from U.S based investors and not from Australians. This is article explains why.

There is a lot of talk in Australia but very little action - a lot of people calling themselves Angels, VC's, incubators etc. without actually funding any companies, or any decent companies.

View on HN

You need money in the system to fund quality startups. But you need quality startups to get money in the first place.

The problem is that we lack a lot in both areas. Chicken/Egg.

Agreed - but I know of many quality startups that have moved to the U.S from Australia (including mine). I think the bigger problem is lack of quality Angel investors, VC's and incubators. The largest angel network in Australia still has a ridiculous and immoral pay-to-pitch flow. They simply just don't get it. And the VC situation is even worse.

Reply on news.ycombinator.com