As she closes her second VC fund at $2 billion (60% higher than Bond I, raised just two years ago), it seems a good time to go back in time and look at some of the predictions Mary Meeker, a.k.a. the Queen of the Internet, has made over time.
You’d be excused for believing this quote is only a few weeks old, as it could apply to our current situation.
In fact, Meeker said it almost 20 years ago to the day.
Asked how long she thought the consequences of the 2000 Internet Bubble Burst would last, she replied that it would probably take about two years:
“There’s scar tissue in the market. There were too many venture capitalists who didn’t know how to be venture capitalists.”
As a consequence, it would take some time for the recently funded startups to go bust.
But, Meeker insisted, the best opportunities were yet to come.
The cause of the dot.com bubble, she explains, is that investors started to forget it was hard to grow companies and took startups public too early.
The fascinating aspect of her BusinessWeek Online interview (see the link below) is how well it fits our current situation.
Or does it? While there are some similarities, one major difference is that the best tech companies out there are still commanding high valuations and getting billions in funding.