Excellent post by Peter Rip on what's ailing the venture capital industry, and some suggestions on what works...with my emphasis.
EarlyStageVC: Traditional Venture Capital Sure Seems Broken - It's About Time
I can only see two venture capital strategies that make sense in this environment. One is to be small, focused, and totally aligned with market realities and founder incentives. There is no magic to this strategy. It just takes discipline. If you have a small fund, place small bets, be maniacal about capital efficiency.
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