This is the best analysis I have ever seen on this subject. Kauffman is probably the only major investor that has enough exposure to do this (none of the Vcs th

This is the best analysis I have ever seen on this subject. Kauffman is probably the only major investor that has enough exposure to do this (none of the Vcs they’re invested in are going to cut them). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2053258 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2053258