So while the data doesn't lie, it also doesn't tell the full story. There is money out there for good ideas, particularly ones that are capital efficient and located somewhere other than Silicon Valley.
Capital efficient is what well-run Internet companies can be. Most other sectors don't have this luxury.
And it seems to me that Silicon Valley may be a leading indicator. Its higher order terms just seem to have bigger coefficients than the rest of the investment community.
Capital efficient is what well-run Internet companies can be. Most other sectors don't have this luxury.
And it seems to me that Silicon Valley may be a leading indicator. Its higher order terms just seem to have bigger coefficients than the rest of the investment community.