Is Boston Talent-Rich but Investor-Poor for Consumer Products?

That’s the contention of David Friend, CEO of Carbonite, a consumer and small business-facing online backup company that recently completed it’s IPO. Friend, who based his company in Boston but chose to raise money on the West Coast, compares and contrasts the coasts noting that “Boston is a really fantastic place in terms of talent, and, I think, has a much better work ethic than you’d find in California.” But Friend also cautions that “New England VCs kind of want you to prove that the product has legs before you’ve even built the product. They haven’t done enough consumer investing to be able to have a real gut feeling for it. They can’t look at a product and say, ‘That’s good, people are going to buy that product.’” The Boston Business Journal has more of the interview here.

This post was authored by Ryan Sansom.

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