Nick Bilton talks with the man behind the highly successful Union Square Ventures.
The New York Times has a revealing interview with venture capitalist Fred Wilson. Although it’s not going to give you a hint about the next technology you should invest in, the piece provides some fascinating insights into the man behind the firm Union Square Ventures that seems to have made a lot of right investing decisions in the last few years (including Foursquare and Twitter).
NY Times: Did you envision the Web world taking off in the way it has?
AVC: I think that we have been surprised by the pace of change. When we started Union Square Ventures in 2003, we didn’t envision the industry would be as big as it is today. Between mobile, social, location and other Web properties, these businesses have become huge staples in people’s everyday lives.
NYC: Are location-based companies like Foursquare the new era of computing?
AVC: Foursquare has done two things that are highly important. First, they’ve given the gift of an explicit “check-in” to the Web. The gift Twitter gave the Web was the status update. The second thing Foursquare, and other location companies like Gowalla, offer is that it was built from the ground up as a location tool. This is important because privacy is a big deal. People do care about where that check-in information is being shared and want to keep it private. Social networks that are built specifically around location are cultivated by its users accordingly.