Scientist turned venture capitalist turned blogger Ron Garrett lists the top ten myths tech geeks believe when starting a business. We'll list out the myths below but you'll have to go to his blog for the full explanation.

Myth #1: A brilliant idea will make you rich.

Myth #2: If you build it they will come.

Myth #3: Someone will steal your idea if you don't protect it.

Myth #4: What you think matters.

Myth #5: Financial models are bogus.

Myth #6: What you know matters more than who you know.

Myth #7: A Ph.D. means something.

Myth #8: I need $5 million to start my business

Myth #9: The idea is the most important part of my business plan.

Myth #10: Having no competition is a good thing.

That's a pretty good list but we're sure you can come up with a few more. In the comments below, go ahead and leave your favorite start-up mistakes or myths.

Top ten geek business myths [Rondom Ramblings via Business Pundit]

Forget what you hear about it being to late to get into venture capital. People will tell you that, having missed the glory days of 1999, there's no point in going into it these days. They're full of it. In fact, they're probably venture-capitalists themselves and just want to keep you out of the competition. The Wall Street Journal today reports that pay for V.C.'s shot up 35% this year. And this was supposedly a rough year for venture capital outfits.

Pay for venture capitalists is up 35% this year, with senior partners at venture firms earning nearly $1.5 million a year and managing general partners raking in almost $2 million. The average employee -- comprising lower-level analysts, associates and even office managers as well as the top earners -- is expected to haul in $777,000 this year in salary, bonus for 2005 and investment profits, according to a new study from Holt Private Equity Consultants and Dow Jones Private Equity Analyst, a trade publication.

Venture Firms Are Doling Out Large Pay Deals [Wall Street Journal]

Behold the Maltese Falcon-venture capitalist Tom Perkins $100 million yacht which set sail in Italy on July 14. Its three masts tower 57-meter above the deck. The entire ship is 87.5 meters long. Although it looks a bit like an old-school clipper, technologically it's closer to a space ship. The masts rotate to maximize speed and aerodynamics, while specialized sensors feed crew members information on the strain put on the sails and masts.

Superyacht sets sail [C-NetNews.Com via Luxist]

It's hard enough to grow old gracefully. Now people are finding economic rationales for resisting their own age. Or should that be rationalizations? Reading this story we couldn't help but wonder if some of these venture capitalists were simply having mid-life crises and then using the latest tech opportunities as a reason to act out.

Venture capitalist David Cowan is a professed chess-playing nerd who studied math and computer science at Harvard. Last year, though, he decided he needed a crash course in getting hip.

For the first time, the 40-year-old downloaded songs from Apple's iTunes online-music store and put some games on his cellphone. He started writing an irreverent blog, called "Who has time for this?" with observations on everything from computer security to his dead cat. He urged readers to give their own felines "a little extra tuna" in memory of his departed pet, Snoopy. Finally, the suburban father of three ventured out to a few high-tech networking parties, including one packed with Stanford University students and beer kegs.

His goal: to fit in with the young entrepreneurs who are suddenly the stars of Silicon Valley, with their hot Web startups aimed at teenagers and young adults. They have begun showing up at his firm, Bessemer Venture Partners of Menlo Park, Calif., dressed in T-shirts and flip-flops to pitch ideas, like mobile-phone services that help young people locate each other when they're out on the town.