From VentureBeat—this is an outstanding article by serial entrepreneur Steve Blank about the evolution of VCs and the IPO market. He sees 1979-2000 as essentially a period of irrational exuberance, and the period we’re currently in as part of a decade-long shakeout. While shakeouts, though painful, can be a good thing long-term, Blank makes a convincing argument that this one hasn’t been a net positive for some tech sectors (specifically those that require larger capital outlays): Startups: Welcome to the lost decade
