The Roots of Bust 2.0

Suddenly, venture capital is growing on trees. But the cash glut could crash the Valley again….[T]he frenzy around social networking is troubling and emblematic of a broader issue. “Quite frankly, the problems of the bubble period haven’t corrected themselves as quickly as we were predicting or would like,” says Jim Breyer, a top VC with Accel Partners and the incoming chair of the National Venture Capital Association. With a sigh he adds, “I fear the worst is still to come.”

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