As recently as three years ago, the natural progression from seed to exit [either IPO or acquisition] was three to five years. That window is now 18 to 36 months. Companies can get to market faster and they have the money to do it. |
I can barely find a[n industry] category that doesn't have a significant technology component. |
It's still Internet related. It has just rotated where the money is spent. |
Venture capitalists are taking a longer view of that industry sector; they're willing to wait longer for an exit because they're getting in early. They have to be both willing to take risks and willing to be patient. |
We're playing with a much bigger deck. |