VentureBeat: A Pep Talk for the Beaten
October 30, 2008
I enjoyed VentureBeat’s summary of the “downturn event” here. The piece by Dean Takahashi gave me useful information and a feel for the tenor of the attendees. Several points stuck in my mind, and I urge you to read the write up. Better yet, try to wrangle a seat in the audience. I am in Denmark and have to experience these events via Web posts. For me, the key take aways were:
- The magnitude of the crash. Forty percent of the world’s market value is history.
- VCs are still investing.
- The epicenter of the crash is not Silicon Valley.
My opinion is that the balance of capital is now shifting from the US to other countries. The mood in Copenhagen in the few meetings for which I have prepped seems more upbeat than in the US. There is a wealth of talent in the San Francisco – San Jose corridor. But I think the days of Silicon Valley’s perceived dominance may be waning. The “beaten” is broader than a couple of hundred start ups.
Stephen Arnold, October 30, 2008
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