For the past two years, I have read or glanced over what seems like hundreds of blog posts and thousands of tweets from people who either directly claim or indirectly hint at a disruption of traditional venture capital. For some, the factors related to the economy, that limited partners and especially institutional investors were reviewing their investment approaches. For others, it seemed as if there was too much money in the venture asset class, that there was too much money chasing too few real opportunities. There seemed to be a long laundry list of why venture capital was undergoing this shift, but never any thread that could lay out all the factors and synthesize just how each factor contributed to shift.
That is, until now..