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Their wordsOur conclusion was that this isn’t a temporary blip that will swiftly trend-back up in a V-shaped recovery of valuations but rather represented a new normal on how the market will price these companies somewhat permanently.
Their wordsBut we’re confident that valuations will get reset. First in late-stage tech companies and then it will filter back to Growth and then A and ultimately Seed Rounds.
Their wordsBut I believe it will be patiently deployed, waiting for a cohort of founders who aren’t artificially clinging to 2021 valuation metrics.
Their wordsBut the way we see it is that in venture right now you have 2 choices — super size or super focus.
Our reading
Investors in any market need an edge: knowing a thesis or a person better than other investors.
Their wordsWe believe that investors in any market need “edge” … knowing something (thesis) or somebody (access) better than almost any other investor.
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