While the big "tourists," eg Fidelity, are investing, they aren't investing in the early stage froth. That's not to say Uber & co's valuations haven't been high

While the big "tourists," eg Fidelity, are investing, they aren't investing in the early stage froth. That's not to say Uber & co's valuations haven't been high, but I've found most investors to be here. Many of them have been here for quite some time too. This article is a whole lot of speculation without much substance. What I'm most curious about is LP's effect on VC fund distribution. The big funds are still raising big funds, General Catalyst as an example this week. They still need to allocate that capital. To answer my own question : I guess they'll be allocating it to the highest growth / most safe opportunities though. And at better valuations.