It is inevitable that US venture funding eventually rose to Y2K levels, and I would argue that it will likely continue to grow. There were only 361 million Int

It is inevitable that US venture funding eventually rose to Y2K levels, and I would argue that it will likely continue to grow. There were only 361 million Internet users in 2000, in the entire world. For perspective, that’s 40% of Facebook's daily active users. As global smartphone penetration continues to grow, market sizes only get bigger. This idea of a high water mark of venture funding that indicates the presence of a bubble is nonsense. I'm not making a comment on the current funding environment but am wholly rejecting the idea of using historic venture funding levels as an indicator.