The claim was empty bluster, however. Mike Moritz, of Sequoia Capital, peeled back the truth with mordant detachment: “One of the dirty little secrets of the Valley is that all the jobs-creation we like to talk about is probably less than the Big Three automakers have laid off in the last decade. One of the best ways to have a nice Silicon Valley c

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As hard as it is to fundraise during down cycles, economic downturns can make other parts of the process easier or cheaper—at least in theory. When times are tough, companies might find it easier to hire new college graduates or talented people who got laid off from other companies, compared to boom times, when everyone is competing for talent. Man

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The venture ecosystem went from cottage industry outsider to institutional insider – from a nascent practice to a consensus component of institutional portfolios. The result has been the industrialization–and bankerization–of venture. Firms that make dozens or even hundreds of investments per year, relentlessly focused on assets under management, u... See more