Gotham Gal, aka Joanna Wilson, and partner of Fred Wilson, is a well-known angel investor in New York. She has been a prolific investor, but she is hanging up her boots. Why?
Valuations have become out of control. VCs began investing in every single sector. It makes sense because technology, health, how we eat, next-generation consumers, etc., have changed everything. Yet to value a company that sells mattresses like a software company makes zero sense to me. The amount of money just tossed around and lost without care is mind-boggling.
This one paragraph is enough to really sum up the current state of investing in technology, the spectacle of technology, and everything related to it.