So my pipe dream of one day running my own venture capital fund may stay that way. 60 hour weeks, nice little seven figure exit every now & then, an office on the beach & in some nice Rocky Mountain town, days comprised of blogging and board meetings....gone. I wonder if its too late to get into s&t?
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Unless you're planning on starting your shop up in the next 6 months, I think you might still have a shot.
You're crazy if you think VC is done. This is just a downturn in the market. Our economy can't exist in a vacuum. Venture capital is a cornerstone of the free market.
The WSO Guide to Understanding TARP
Edmundo, I'm no expert, but I do spend as much time peHUB & TechCrunch as I do here to know that the industry is in a little bit of trouble. I should clarify that I meant to have a sarcastic tone in my post, but that fact of the matter is that a majority of the major players in LP roles for VC's haven't been happy with the traditional returns they've seen on their VC investments, which will keep capital out of the hands of a lot of first time VC's. Even during the tech bubble burst VC's where able to exit some great companies and eventually ride that out to the web 2.0 era. Now however, the talent pool for investment is starting scrape the bottom of the barrel especially in the tech/web world. I agree, yes VC wont go away because there will always be companies starting up, but I think the mega funds like KPCB are not going to have the kind of exit market that could justify the size of their funds. Smaller funds w/ experienced entrepreneurs running them will be the norm. Which means, in my opinion, that its going to be even tougher for unconnected bankers to get into. I guess that was the point I was trying to make.
I think when we emerge from this market cycle, you will only find leaner, meaner firms left standing. In spite of that, I still think there will be a lot of opportunity to move into VC, albeit at a smaller firm.
We won't stop innovating. If you look at how VC has morphed over even the last 30 years you can see that it is pretty much in a constant state of flux. VC always seems to find a way. Stick with your ambition, I think you'll be glad you did.
Besides, it's basically the one area of investment banking where you can actually participate in the creation of value for the economy rather than just sitting back and collecting fees without producing anything of any tangible worth.
The WSO Guide to Understanding TARP
do VC in China...its like gold rush out there
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