This headline caught my eye this morning: US VCs Raised $7.7 Billion In Q1, Highest Influx In A Decade. Of course, if you‘ve been following the news in our industry, you know there’s a raging debate on over whether we are in “another bubble.” This news will of course be interpreted as evidence that, in fact, we are back to bubbly levels…after all, one decade ago was when we had our last big hurrah, right? When VCs gave mostly incompetent founders way too much money, and the whole thing came crashing down around us.
Well, yes….and ten years ago, there was no way our industry, social culture, or technological infrastructure was ready for the big ideas VCs wanted to fund.
This time, I believe, is different.
There, I said it. Now go invest those billions, VCs, and go spend them, entrepreneurs. It’s about time we believed again.
Though, I must admit, the constant specter of the dot com bubble is a healthy thing – it keeps most of us focused on creating value, rather than simply scheming on how to make a quick buck.