I left a similar comment below. I believe it's different because returns data for seed investing is so opaque In the stock market, you have a very public scor

I left a similar comment below. I believe it's different because returns data for seed investing is so opaque In the stock market, you have a very public scorecard at the end of each day telling you and those who know what you've invested in how you are doing. With seed investing, there is no such mechanism and the time horizon is much longer. Not a daily scorecard but one over many years. Add to this that the scoring is imperfect, ie prone to spin as failed companies get dressed up as acquisitions instead of asset sales for example. For this reason, this trend for seed investing will carry on much longer. As for Facebook and Zynga, they may sour opinions on certain sectors of tech but then you see folks like LinkedIn, jive, etc doing well after going public, this just highlights that not everyone can be above average. I personally think there will be a huge shift in companies targeting the enterprise but that's a story for a different day.