Both. If I am talented and I’m confident that money is available I’ll start a business. If money is scarce I’ll work at BigCo or move to SV and start a company.

Both. If I am talented and I’m confident that money is available I’ll start a business. If money is scarce I’ll work at BigCo or move to SV and start a company. That leaves you with less than stellar talent. I’ve seen the same thing happen in the agrifood tech space. As more money has come into the sector we’ve seen more high quality entrepreneurs.