Sydney’s Dinner 2.0 is having its
third fourth (see Marty’s correction of my math below)gathering on Thursday evening.
The topic: Is traditional VC broken?
The blurb: After 25 years, top valley VC Sevin Rosen have decided not to raise another fund. To quote them “the venture environment has changed so that overall returns for the entire industry are way too low.” Are they just not confident they can make money in the telco sector, or, like others have suggested, is technology venture capital flailing around like a legless cow in a butcher shop? Nick McNaughton from Zookoda recently put his company up for sale; Ebay has seen off startups like Kiko, and many recent acquisitions have been before VC funding. Is this new order the inevitable rebalancing of startup cost, founder greed, and market requirement? Are we truly seeing the death of the big VC, or is the ‘next web’ wave going to grow big enough to carry them along?
The outcome: stay tuned, I’ll provide post event feedback.