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

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The First Law Of Internet Physics – AVC

I told him that when you are looking at financial manias, the amplitude of the mania is inversely correlated to its duration. I like to think of these manias as waveforms. When they build slowly they last longer. When they develop overnight, they dissipate quickly as well. This rule also works pretty well for consumer internet services.