And small, self-funded, nimble startups outside the valley eat the lunch of overstaffed and overfunded startups with high leverage and a gun to their head. I d

And small, self-funded, nimble startups outside the valley eat the lunch of overstaffed and overfunded startups with high leverage and a gun to their head. I don't think we're due another cycle yet, but every cycle just decreases the amount of money you actually need to make a go of it. Sometime over the next 5-10 years another bust would probably be an overall good thing.