TLDR: Venture managers are changing their behavior with respect to new deal pacing and valuations. Although pacing has slowed, the market has not fully adjusted to the new market as investors and entrepreneurs are still evaluating how to participate in this new market economy.
I wonder if you took the weighted average IRR for all VC funds say 10 years old if the return justifies venture investing compared to returns in the S&P 500 considering the risk and lack of liquidity.
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