April 1,  2000  Vienna, Austria    

Michael Potter, Director of Paradigm Ventures, argued, "The current wall of money has created artificially high valuations in the public markets. In addition it has made available tremendous cash available to venture capitalists which in turn has created inflation for early stage investments."  Potter predicted that, "When the IPO market slows down the role of venture capital will increase and they will become more important to early stage companies over a longer period of time." Potter concluded, "After the next adjustment venture capital will become mature in the US and Europe.  Because brain speed is now synonymous with business speed, in our industry we cannot afford to loosen our seat belts.  And make sure you are protected by some type of airbag!"