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Venture capital is always wanting to go up market.

There are lots of ways to make money in venture capital, and there are even more ways to be mediocre. The industry has too much money and too many smart people chasing too few great entrepreneurs.

I think businesses live longer that are on the stock market.

So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster.

I don't think a lot of people have been entrepreneurial about venture capital.

The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

Big companies are looking closer term, and even the most technological companies spend less than 1% of sales on research. Startups have suffered the burst bubble.

I think the dot-com boom and bust represented the end of the beginning. The industry is more mature today.

Many of the best firms historically in venture capital have been multi-sector.