I was mentally-jazzing on east coast fundraising this morning and my brain wandered to the conventional wisdom bit about markets and business cycles being driven by fear, greed, and herd behavior.
In the VC world, I don’t think herd behavior is a driver by itself – it’s just a piece of greed or fear depending upon the situation (feel free to disagree!).
I wondered whether or not you can correlate Jim Matheson’s conversation that
The Boston establishment is about preserving wealth, not creating it.
and Paul Maeder’s statement that
in California everybody knows everything goes to the moon, so they actually make things go to the moon …
to fear and greed?
Can we assert that the fundamental difference between east and west coast VCs is that the majority of west coast guys invest primarily on greed while the majority of east coast folks invest primarily on fear?
I am not asserting this, but it seems like a potentially interesting thought train.