I don't see why anyone would conclude the VC business couldn't grow. Sure, individual partners can't sit on more boards. But (a) the ratio of board seats to m

I don't see why anyone would conclude the VC business couldn't grow. Sure, individual partners can't sit on more boards. But (a) the ratio of board seats to money invested can shrink, and in fact has already been shrinking dramatically, and (b) new VC firms can be started. One of the most prominent firms, Andreessen Horowitz, is only a few years old.