Internet startups need to ensure that their investors give them encouragement as well as cash to ensure that their projects succeed, according to former CNN executive Lou Dobbs.
Speaking at the Milia 2000 multimedia show in Cannes today, Dobbs said startups need to be passionate about what they're doing and prepared to fight failure. Dobbs has just launched a web portal called Space.com.
"In the early excitement it is easy, but it can turn upside down in 30 days," said Dobbs. "It's not simply about money." Venture capitalists need to provide startups with counselling and support when they hit bumpy ground, he added.
Dobbs is confident that the Net will bring "halcyon days" worldwide, but he warned those seeking venture capital projects to "only choose one that has a passion for what you are doing".
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