VC investing isn’t what it was. By that I mean, the majority of investment isn’t done by a loose partnership of generalists investing in emerging markets with speculative technology. Instead, tech markets have grown and matured, and the amount of capital available has kept pace, growing many orders of magnitudes in the last few decades. As a result, venture capital has professionalized with much of the activity coming from coordinated teams in large firms doing tremendous amounts of analysis, often in specific sectors. In fact, I’d wager most of that analysis isn’t about technology at all. READ MORE