The Ledger, every show

“Back in the mid-aughties some billions of dollars were wasted in venture guys investing in nanotechnology. Venture guys investing in science for ultimately Clean tech opportunities, but that were way upstream, that took much too long, much too much money, and …”

“Since then, we've had all of about four quarters in 15 years when there have been as many as 20 venture capital backed IPOs.”

“From 1980, this is my own data, this data published in peer-reviewed journals, from 1980 to 2005, The average number of venture-backed IPOs per quarter was about 30, with a standard deviation of 10.”

“One clue is that the mean and median value of an IPO has more than tripled since the dot com, in real terms.”

“If you look at the data, look at the NVCA data, the proportion and the value per transaction of M&A has kind of gone up as the number of IPOs for venture-backed companies has gone down and stayed down.”