Jason Mendelson on why VC isn't broken, contrary to the beliefs of 59.2% of VCs who participated in a recent survey: It's cheap to build a tech company these days, there are lots of entrepreneurs, many of whom are experienced, and a couple of reasons to be optimistic about exits in the future.
I think this is right on. When you've got nothing but talent and time, great things result.
Here's an NVCA presentation on restoring liquidity (particularly IPOs) to the VC industry, referenced in Mendelson's article.
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