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A venture capitalist in San Antonio seems to be focusing on the right target: home grown businesses.
When Maytag shut its doors recently in Newton, IA, the civic leadership was understandably shaken. But the answer to Newton's challenge is not to try to recruit another company like Maytag, but it is to grow another company like Maytag.
The same is true for San Antonio, where AT&T recently announced it was moving its headquarters.
As the San Antonio VC puts it:
"We have to make sure we continue to cultivate homegrown companies because they are more sticky. If they move here that means that they left somewhere else. Companies that grow here have deeper roots."
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