Bill Gurley's Stock Speech
Ever since his infamous blog post in August -- when he warned how LPs, having been burned in the downturn, were pulling back on their venture investments and predicted the industry would shrink by 50% -- Gurley has been seen as a wise man in Silicon Valley because much of what he's said so far has come true. Now he's working the conference circuit, and he did it again today at AlwaysOn on Sand Hill Road in front of a standing room only crowd. Venture capitalists, many of whom work within walking distance of this conference, held at Stanford's Rosewood hotel, spilled out into the hallway to hear Gurley talk about what he called "the unprecedented changes" in the venture industry. "Top venture funds are being remarketed by Stanford University," he said, referring to Stanford's billion-dollar secondary sale. "We're on Stanford property now. I don't think anyone ever expected this would happen."
