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A Venture Capital History Perspective From Jack Tankersley

Feld Thoughts

In January, Jerry Neumann wrote a long and detailed analysis of his view of the VC industry in the 1980’s titled Heat Death: Venture Capital in the 1980’s. There are five key risks in any deal: Market, Product (a/k/a technology), Management, Business Model, and Capital. Taking all five at once is crazy. I strongly disagree.

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Go early, go late, or go home

BeyondVC

I see this as a trend that will only accelerate in the next few years as you have venture funds, LBO shops, and even hedge funds get into the tech buyout action. Witness the recent Sungard deal and others. If the private investors are willing and able to pay $11.3b for a company then no public software company is sacred.

LBO 60