Asset Management Is A Bizarre Industry Ripe For Disruption
David Teten
NOVEMBER 15, 2013
This may make sense from the individual perspective of a given VC, but collectively it ensures that early-stage companies are overvalued. In aggregate, angels are significant investors. However, I’ve seen many VCs who value companies as an option: the company has a 1% chance of being worth $1b, therefore it’s worth $10m.
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