What’s the best way to navigate the fundraising climate?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Mobile Downturn – AVC

In tech investing, we get booms when a new cycle emerges and downturns as it matures and consolidation of economics happens (think Microsoft in the late 80s/early 90s). The downturn is always followed by something radical and new that starts on the fringe and becomes mainstream. Timing all of these things is hard. But it is what we have to do.