"As an industry, he suggested, venture capital has little to recommend it. 'In the future, I see a median rate of return of zero or less,' stated Sahlman, observing that the top thirty venture-backed firms contributed 50 percent to 70 percent of distributions in the industry in the past ten to fifteen years. With so much global liquidity, he added, it will become even more difficult to earn a respectable rate of return as too many dollars chase too few opportunities."
You dunno Jack. You just dunno.
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