“It isn’t like 1999, when there was too much money chasing too few deals. Now there’s a lot of money chasing a lot of really good deals.”
Who said it: Gordy Davidson chairman of the law firm Fenwick & West in an interview
In Context: It looks like Silicon Valley startups, the most promising ones, have the luxury of being in an economy where too much money chasing too few deals. Davidson’s quote appears in an interview that offers his insider view of current trends in Silicon Valley. He confirms an up-cycle based on the stock market being about as “high as it has ever been” and the fact that his law firm set revenue records in each of the last three years.
Other indicators of economic activity he points to: increased traffic on Highway 101, job creation in Silicon Valley, increased real estate prices. The trend is not particularly robust, he says. “It’s not affecting all industries. But certainly technology is strong right now, with notable exceptions. Some companies are having trouble.”
Davidson is a leading lawyer whose firm advises Cisco Systems, Oracle, Intuit, Electronic Arts, Macromedia, Facebook, as well as startups like GitHub, which has had VCs clamoring to invest, according to the interview. ( Image Source: The Deal )
Where we found it: AllThingsDigital