Some of the Tech Coast's most prominent venture capitalists had some advice for entrepreneurs at a meeting of the Southern California Software Council: Assume we've heard your pitch before.
Carrie Stone, a partner with La Jolla-based Enterprise Partners, said her firm receives 5,000 business plans a year but decides to fund only about two dozen. Other venture capitalists said they are just as picky.
With so many pitches coming in, the venture capitalists said they usually know a company's industry better than the entrepreneurs themselves.
Curious about the most over-pitched business ideas? Web sites that sell pet food and online greeting cards, or catering to Generation Y.