Guy Kawasaki has a funny and so true post about young entrepreneurs.

If you want additional proof that we’re in a bubble, here it is: young people are trying to get into the venture capital business again.

His advice for young people just out of college to create a product or service instead of immediately going into a venture fund is good because a venture fund is the last place you should work in your career, not the first.

It reminds me of Real Estate Investors.  I’ve known some that do a couple of deals and then immediatly go into coaching and teaching.  When you ask them how to handle a down turn market they have no idea because they have never seen one.  Then when a down market comes they continue to tell students that is is still easy even though the only money they are making is in teaching.  I also see this big time in Internet Marketers.  Great copywriting can sell snow to Eskimos in a snow storm.

Anyways, I degress.  Check out Guy’s VC Aptitude Test.  Great stuff.  His questions are dead on.

How to Change the World: The Venture Capital Aptitude Test (VCAT)