Founders - the top 5% has achieved liftoff.
Bryce Roberts of Indie VC noted, "I can't relate at all to where I'm seeing the VC world heading"
I hear ya, Bryce!
Massive funds playing at the earliest stages. Wild valuations getting signed in hours, not days or weeks. Secondaries flying off the shelves.
In parts of VC, we have entered a clear and obvious hype cycle around AI. And that's not a shot at whether AI will transform the world and our work - it can do so and still be a frenzied hype cycle where most investments don't result in returns.
Top 5% valuations hit $115M in the final quarter of last year.
Historically expensive!
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