Venture investment activity
Once again the year end numbers are out and the ritual wringing of hands has started. As is often the case, Fred Wilson has a clear point in his post The Venture Diet is Working. His basic point, which many others have also made, is that there is too much money floating around the venture industry and that this excessive amount of money drives down industry returns. If there is less money invested in any given period, presumably it will go to the better deals (generally speaking) and will ultimately provide better returns. You can’t argue with that proposition. It...
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