Word has leaked that Silicon Alley's most successful firm just began a hiring freeze. Web ad buyers are predicting a 2008 downturn. The stock market is getting downright fastidious with all its "corrections." Should Valley entrepreneurs worry about venture capital drying up? In a word, "No," former HP board member and Kleiner Perkins cofounder Tom Perkins told Creative Capital.
"Will the credit crunch affect Silicon Valley earnings? Anything to worry about there?" Spencer Ante asked Perkins in an interview. His response:
No. There's far more than adequate capital, as we've said earlier. It's always a good time to be in venture capital. If the markets come off a bit, the prices come down. You can't look at the stock market and decide whether or not to invest in a startup venture. You have to totally ignore that. You have to assume sooner or later there will be a market for liquidity. After all, the growth of technology has been just about the only constant in our economy for a very long time.
