> Watch what happens when the body of startups funded by global pools of capital ... sees the NPV of software startups vanish as lower expected investment retur

> Watch what happens when the body of startups funded by global pools of capital ... sees the NPV of software startups vanish as lower expected investment returns smack up against higher risk-free rates. I don't know exactly what that means, but if it means what I think it does, I've been there. I was at a startup in 2001 and we were getting interest from VCs, to move out of angel funding. The economy was already slowing but then 9/11 happened and there wasn't a VC that was shopping for at least 6 months, all the investment money dried up literally overnight. We barely survived on salary austerity and a RIF.