In 2008, just as the global economy was collapsing, one of the most storied venture capital firms in Silicon Valley, Sequoia Capital, gave a presentation that encouraged entrepreneurs to raise as much money as they could, and hunker down for a nuclear winter.
Three years later, the startup economy is zooming along. Many young companies large and small have been raising money at significant (and arguably exorbitant) valuations. A new breed of angel investor — the ‘super angel‘ — has emerged, buoying the market for startup capital. And thanks to secondary markets for private company stock, founders and early employees at some of the most successful companies have been able to obtain liquidity.
But are the good times coming to an end, again?