BetFair co-founder Ed Wray laments the suppression of UKs tax incentive for startup entrepreneurs.

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BetFair chairman Ed Wray: &#8220-Too many hurdles in the way of enterprise&#8221-.

Wray refers to a tax incentive that he and Black used to launch Betfair after they were forced to go to friends and family for funds, having failed to raise capital from institutional investors.

&#8220-That was very useful in terms of getting the business off the ground. Everything I see now is about cutting back on those opportunities.&#8221-

How VC blogger Paul Kedrosky pumped up HedgeStreet to his gullible readers in 2006, and later failed to update them with the hard fact of its (de facto) bankruptcy. Why telling the truth to readers when its easier to tell them fairy tales?

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Paul Kedrosky was all excited, in April 2006, to tell his gullible readers that HedgeStreet received another round of funding &#8212-adding all up to $24.9 million.

And just 18 months after Paul Kedrosky&#8217-s pronouncement, HedgeStreet (v1) ate the bullet and bellied up.

And, of course, Paul Kedrosky has never mentioned to his readers the hard fact that those $24.9 million went up in flames &#8212-creating nothing else than hot air.

Why bothering with reporting the truth? Let&#8217-s tell blog readers some fairy tales, instead. They swallow.