Anyone wanting to get a primer on the venture capital business model should listen to this brief explanation by Tim Chang of Norwest Venture Partners.Chang gave the quick hit to audience members of the San Fran Music Tech Summit last month, a gathering of musicians, technologists and other fans of the digital music business.The bottom line for VCs, as Chang explains, is that every deal they invest in needs to hold the potential to grow in value until it equals the venture fund it is a part of. In the trade, it's called "returning the fund."   If a VC firm owns 10% of a startup at the time of exit, whether it be an acquisition or an IPO, those deals ... [ Read more ]