What is the current state of the venture capital industry?
— The venture capital industry is experiencing a correction due to excessive free money in the market, resulting in decreased portfolio value and LP commitments.
What is the current state of the software industry?
— The software industry is currently in a recession, but there is hope for recovery through negotiations and perseverance.
What is the impact of reading Walter Isaacson's biography of Steve Jobs?
— Reading Walter Isaacson's biography of Steve Jobs had a significant impact on the speaker's management style and approach as a CEO, leading to immediate positive results in their company.
What is the current state of series A funding rounds?
— Series A rounds in the VC market have returned to normalcy, with median funding at $7 million and pre-money valuation at $40 million, down from the previous year but still competitive.
What is the impact of excessive free money in the market on the venture capital industry?
— The inflated returns in the venture capital industry were due to the excessive amount of free money in the market, resulting in a correction that caused a decrease in portfolio value for endowments and a decrease in LP commitments to venture capital.
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