That's how one of the many CEOs that contact me recently described his colleagues who submit to Venture Capital (VC). This alternatively funded CEO describes other CEO’s that seek VC funding as idiots – with a 1 in a 1000 shot at a lousy valuation (52% Round A, 25% Round B and 15% Round C). He continues that many of the serial entrepreneurs trumpeted by VC’s have no money themselves despite “successful” previous exits. He is not alone about the ineffectiveness of Venture Capital, I frequently hear from other successful entrepreneurs about it. And the situation may get worse before it gets better. The economy is offering VCs even more excuses to turn the screws, and control of companies is gained in more ways than a simple equit

SAP, the world's largest business software company, said Léo Apotheker has been replaced as CEO. The SAP Executive Board, in agreement with the SAP Supervisory Board, has appointed two Co-CEOs: Bill McDermott, head of field organization and Jim Hagemann Snabe, head of product development, both already members of the SAP Executive Board. Dennis Howlett, on ZDNet, writes that Mr Apotheker's departure wasn't unexpected. But it was surprising that the company acted so soon. The choice of new leaders should not be surprising but hardly imaginative. In effect, SAP has chosen ‘last men standing’ rather than taking what some of us thought might be a bold move by appointing an outsider. SAP is headquartered in Germany