>Yet I wonder how this premise can fully accepted when so many entrepreneurs are still chasing capital to fund their startups and even when money is 'so easy' t

>Yet I wonder how this premise can fully accepted when so many entrepreneurs are still chasing capital to fund their startups and even when money is 'so easy' to raise in this market, VCs are still seemingly exhalted?" Because it doesn't really work like this author is describing. Silicon Valley just likes to make claims that it's different. Sure, because of the do-it-yourself minimal-capital requirement of software (what now underlies what we know as SV), venture capitalists are able to fund ventures on a smaller, more personal level. But at the end of the day, it's a bunch of rich guys lending money to people who do the actual work. Always has been, always will be. Even the "angel funds" are becoming a commodity, and are adopting a "spread it around and see what works" model. Just like banks do with mortgages.