"The venture capital asset class does not scale." -- ...this is the clearest I've heard a VC say it. Where's the bottleneck?
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"If $100bn per year in exits is a steady state number, then we need to work back from that" -- ...SV scaling-talent-bottleneck?
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Hyp: every major metro that can create relatively liquid talent pool of ~1500 engineers can add $100B/y in exits to VC asset class
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chicken egg... capital access has lots of strings, but basically exists everywhere. Also ent-mindset. Missing: vc-risk mindset
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