Saying net neutrality is good for business, Fred Wilson, Managing Partner of venture capital firms Flatiron Partners and Union Square Ventures said he supported the government's light weight regulatory framework as proposed. "Without these rules, investors like me who invest in "open internet" will not be able to invest any more," he said in a post on AVC.com.
Many VCs would not invest in the mobile internet when it was controlled by carriers who set the rules, picked winners, and used predatory tactics to control their networks, he said. Once Apple opened things up with the iPhone and apps, VCs changed their approach. "If you look at the hundreds, maybe thousands, of mobile internet firms that were VC funded in the first decade of the mobile Internet when the business was controlled by carriers, you will see an enormous failure rate," he said.