At the end of the day, most VCs would tell you that you'd get a bigger bang for your buck out of an IPO than an acquisition but the public markets are not as ebullient as they could be so we probably will see more acquisitions.

Wall Street is giving companies breathing room.

It's a never-ending battle as to whether to keep it within the corporation. There's pros and cons on both sides.

We are turning away money at this point. We will raise about $25 billion this year. In talking with many venture capital firms, I think we could have raised $100 billion if we wanted that money.

We are turning away money at this point.

We're hearing much more about elbows being thrown, especially if you're talking to people in Silicon Valley. There's a lot of competition out there.

A venture capitalist would rather work with three large institutional investors who give him $50 million rather than 10 individuals who give him $5 million each.

Are we concerned about a growing frothiness here? The answer is absolutely not, ... There is simply not enough money coming into the asset class to support the kind of exuberance we saw in the late 1990s, and that's a good thing.