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Joseph Jacks bets on open source startups, a ‘paradox of philanthropy and capitalism’
Joseph Jacks and OSS Capital have sought some of the earliest stage open source startups, and funded them through their formative years.
“They recognized the time required to cultivate a strong and loyal community — their insights into how other startups navigate the balance between open source and commercial offerings was important for us to define our strategy going forward,” Lopes told TechCrunch. This included introductions to angel investors, such as Red Hat’s Bob Young and AngelList co-founder Naval Ravikant, in addition to executives from companies such as Elastic and GitLab who now sit on OpenBB’s advisory board. Image Credits: OpenBBHowever, leaning into “open source” as an investment ethos flies in the face of a growing sense that overly permissive software licensing just isn’t compatible with building a sustainable long-term business.
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