In a recent post in NYT's Bits titled, "Pessimism From Venture Capitalists" author Claire Cain Miller handles the bad news first.
"I am convinced that the I.P.O. market will be largely unavailable or unattractive for at least the rest of 2008 and for the first half of 2009," says Jim Breyer of venture capital firm Accel, an early investor in Facebook, where Breyer is on the board. "We are advising our portfolio companies to view their cash as particularly precious in these difficult times."
However, in the following paragraph she writes:
When the market does turn around, investors say green technology will lead the way, with mobile and digital entertainment following.
Okay then, I guess we just have to wait for things to turn around…
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