FTA: I don't know what Chris was referring to exactly, but as an angel investor this statement resonates with me right now. I've been seeing some really high va

FTA: I don't know what Chris was referring to exactly, but as an angel investor this statement resonates with me right now. I've been seeing some really high valuations floating around. Don't get me wrong -- there is nothing inherently wrong with high valuations if everyone is aligned in exit expectations. The problem is I don't think the alignment is there in many cases. Keynes' quote is appropos: Worldly wisdom teaches that it is better for reputation to fail conventionally then to succeed unconventionally. Many of the insane valuation is herding instinct. When the market crashed in 2000-2, lots of shrugs and expressions of "Hoocoodanode?"