Angels moving to VC: Reid Hoffman (Greylock), Mark Goines (Morgenthaler), Shervin Pishevar (Menlo), Ross Fubini (Canaan), Chris Dixon (A16Z)
Ottway Ducard stashed this in venture capital
Is that why no one seems to be angel investing anymore?
YES. Why invest your own money when you can invest somebody else's?!?!
Also a16z plays at investing seriously; most of their money seems to be made in investing in later-stage companies who were already on a rocket ship growth trajectory. Their brand strategy is working.
Why risk money on an early investment when there are plenty of de-risked later round companies worth investing in?
I'd argue they just want to level up. It seems to be seen by many as the next career move.
I think you're right, Christina.
If you've successfully started a company before you have two main options: start another company, or fund companies.
In the current funding climate, if you have a chance to become a VC, you take it.
The VC industry itself is consolidating so there are fewer available positions.