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Text duration start ents sentiment
16th century more like the 26th century 6.161 Jump to 11.599
    DATE 16th century
co-founder of lux capital with 4 billion 5.28 Jump to 22.48
    MONEY 4 billion
uh i just want to start first with kind 2.88 Jump to 27.76
um i just wanted to start first with 4.0 Jump to 32.079
estimation a greater than 60 chance that 4.8 Jump to 54.8
we are in march of 2000 for a broad 4.241 Jump to 57.199
    DATE 2000
probably going to uh for 18 month period 4.96 Jump to 62.96
    DATE 18 month
until say october 2001 where you saw 4.881 Jump to 65.119
    DATE october 2001
about an 80 decline in some of the most 4.559 Jump to 67.92
    CARDINAL 80
popular names and that 80 decline 5.2 Jump to 70.0
    CARDINAL 80
happened by 50 basis points one percent 4.241 Jump to 72.479
    CARDINAL 50
    PERCENT one percent
you've had five six years where by the 3.92 Jump to 80.72
    DATE five six years
three words husband your cash hold on to 4.24 Jump to 100.32
    CARDINAL three
companies that are burning maybe 10 2.8 Jump to 117.04
    CARDINAL 10
million dollars a quarter something like 3.12 Jump to 118.56
one of the big 3.759 Jump to 149.84
    CARDINAL one
the last say five six seven years 5.28 Jump to 157.2
    CARDINAL five
have been raised we closed a billion and 3.279 Jump to 181.68
a half just six months ago with a lot of 4.0 Jump to 183.04
or two years ago now in my estimation 3.2 Jump to 190.08
    DATE two years ago
is one of our limited partners had a 4.0 Jump to 201.599
to be six seven eight names on a 2.64 Jump to 212.48
    DATE six seven eight
similar to what you saw in 0.708 in 2.88 Jump to 247.68
    CARDINAL 0.708
delay it a quarter or two can you do 3.361 Jump to 256.079
2002 period where 4.2 Jump to 310.52
    DATE 2002
so you saw this you know 2002 to 2007 3.6 Jump to 435.28
rise of venture firms from say 98 to 5.039 Jump to 442.56
    CARDINAL 98
2001. the number of firms in venture 4.159 Jump to 444.88
    DATE 2001
400 at that time sort of late 90s to 4.641 Jump to 449.039
    CARDINAL 400
    DATE late 90s
about a thousand until it wasn't cut in 3.04 Jump to 451.52
    CARDINAL about a thousand
500 now that still was an increase of 25 4.16 Jump to 454.56
    CARDINAL 500
    CARDINAL 25
from about 800 active venture firms just 3.919 Jump to 458.72
    CARDINAL about 800
a few years ago to over 1800 now some of 4.481 Jump to 460.479
    DATE a few years ago
    DATE 1800
25 50 100 million dollar fund some are 3.921 Jump to 466.319
    MONEY 25 50 100 million dollar
were one of the survivors there will be 3.361 Jump to 482.319
herd i would predict that between 50 and 4.0 Jump to 489.84
    CARDINAL between 50 and
75 of the active investors in private 3.921 Jump to 491.599
    CARDINAL 75
next two years speaking of the herd but 3.679 Jump to 495.52
    DATE next two years
have not seen a downturn march 2020 was 4.161 Jump to 598.959
    DATE march 2020
not a downturn that was a two-week 3.761 Jump to 601.839
    DATE two-week
drawdown march 2000 was a downturn you 4.32 Jump to 603.12
    DATE march 2000
their jobs they were losing their 80 3.841 Jump to 610.079
    CARDINAL 80
revoked so i remember 20 years ago you 5.279 Jump to 628.56
    DATE 20 years ago
had investment banks in march 2000 maybe 4.719 Jump to 631.12
    DATE march 2000
then ensuing six months they were taking 4.56 Jump to 633.839
    DATE six months
and i think that in a year or two the 3.2 Jump to 707.04
    DATE a year
    CARDINAL two
because of this fomo in a day or two 3.12 Jump to 752.399
    DATE day
    CARDINAL two
because you've got 40 competing term 2.96 Jump to 754.16
    CARDINAL 40
areas where there's 500 or even 50 3.281 Jump to 764.079
    CARDINAL 500
    CARDINAL 50
be only one two or three companies you 3.359 Jump to 768.48
    CARDINAL only one two
    CARDINAL three
macro for five six seven years and make 2.799 Jump to 774.48
    DATE five six seven years
you know there are two big themes that 3.12 Jump to 832.0
    CARDINAL two
one of them is in uh 3.44 Jump to 837.36
    CARDINAL one
hard power and one of them is in soft 2.799 Jump to 839.04
    CARDINAL one
these two powers a bifurcation a 3.44 Jump to 848.16
    CARDINAL two
you've had 20 years of the zeitgeist 2.8 Jump to 859.92
    DATE 20 years
north of 14 sovereigns that are now 4.0 Jump to 910.88
    CARDINAL 14
a few different ways one was export of 3.839 Jump to 944.0
    CARDINAL one