VC's mea culpa; Confessions of a venture capitalist.(Technology Crossover Ventures)(Finance and Economics)(Brief Article)
Economist (US), The, December, 2000
IT IS the season for those annual round-robin letters, stuffed with gripping news about little Johnny's school and Aunt Pam's dodgy knee. This year, even venture capitalists are joining in: 2000 has been so exciting that Technology Crossover Ventures ( TCV ), a leading fund responsible in part for such successes as Ariba, ONYX Software, Copper Mountain and RealNetworks, has sent its investors an unexpected "interim update" on the goings-on. This letter, which turned up in The Economist 's pre-Christmas mailbag, sheds valuable new light on the normally hidden world of venture capital ( VC ).
In contrast to the still bullish public statements of other venture capitalists, TCV reckons that bankruptcies in the dot.com world are taking place "at a seemingly...
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