So let’s not flip out too much about this brokerage bust. It’s going to hurt in the short term here in NYC and the effects will be felt on main street and even in the venture business. But in the long term this is all good. That’s why we need to be careful with all of this bailout activity. It’s not just moral hazard, it’s propping up bad businesses that need to fail so talent and capital can move to more productive efforts.
A VC on the Economy