Good morning, All,It’s that time when everyone is making prognostications about the new year, and it’s something we tend to studiously avoid. This year, we’re making an exception, given what we’ve been seeing lately:- Fred Wilson touting the enterprise as the New Black
- Fred Wilson pointing out that he’d made no investment in 2012 (his associates did)
- The claims that Series A is dead – or at least a lot harder to get to (The Series A Crunch Survivor’s Guide
. Just in case: http://bit.ly/WpO5WW
)This will be the Year of the Entrepreneur and we’ll explain: For years, VCs have invested in companies that have gotten high market awareness/traction in a very short amount of time and were seeing huge valuations on their investments, never mind that the companies were not making a dime, or at best, barely enough to cover operating costs. Fine, but at some point, entrepreneurs must realize that a startup is a compan...