
Accelerators Can’t Be Rung Zero of the Venture Capital Ladder - venturefizz
http://venturefizz.com/blog/accelerators-can%E2%80%99t-be-rung-zero-venture-capital-ladder
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I don't see why anyone would conclude the VC business couldn't grow. Sure,
individual partners can't sit on more boards. But (a) the ratio of board seats
to money invested can shrink, and in fact has already been shrinking
dramatically, and (b) new VC firms can be started. One of the most prominent
firms, Andreessen Horowitz, is only a few years old.

