Vcs Are Doing News Today

Stage very early stage. thats what i want to address. with apologies im only going to address part of your question. >> thats fair. >> something interested happened in 2008 and we saw it happen again now. the valuations of the companies at the earliest stages, companies that may be worth less than $10 million, theres not a appropriate to us drop. what does happen is we continue to have and continue to be challenged by the need for early stage capital. this is -- this is not going to go away. tak...