Yikes. Look institutionalized. The big money is made during the troughs when hand shacks work: 70s, early 90s, early 00s. At the end of the day, most VC valuat

Yikes. Look institutionalized. The big money is made during the troughs when hand shacks work: 70s, early 90s, early 00s. At the end of the day, most VC valuations are pulled out of a hat. There's a reason why $1B has become a sexy handle: people ascribed some type of value to this valuation.