> It doesn't help that even the "smart" money has no where to go that will provide significant returns [1]. This is an inaccurate understanding of what is taki

> It doesn't help that even the "smart" money has no where to go that will provide significant returns [1]. This is an inaccurate understanding of what is taking place. It's not that there are no asset classes capable of delivering "significant" returns today; heck, the S&P 500 has nearly doubled in the past four years. It's that to get returns, investors have been forced to pay significant premiums and take on greater risk. That said, the money that is pouring into startups (through venture funds, super angel funds and individual angels) is not money that was previously being invested in Treasuries. The startup bubble is being fueled by the public equities bubble, which is a rising tide that has lifted a lot of boats.