Adventure Ahead

Robert X. Cringely writes...

Right now, there is in the U.S. venture capital community about $25 billion that remains univested from funds that will end their lifespans in the next 12-18 months. If the VCs return those funds to investors they'll also have to return $3 billion in already-spent management fees. Alternatively, they can invest the money -- even if they invest it in bad deals -- and NOT have to cough-up that $3 billion.

...so get ready for the most furious venture investing cycle in history.