Venture capitalists are bankers with better branding.
Friends and I traded that joke back and forth in the 2010s. A fiscally cautious response to the Great Recession contributed to a slow, if steady, economic rebound, spurring central banks around the world to maintain historically low interest rates. This cheap-money era motivated money managers to chance ever-riskier asset classes.
Big money flooded funds focused on every stage, from a startup’s first check all the way to its IPO.
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