Fred Wilson--as in, the New York-based venture capitalist who bet on Etsy, Foursquare, Kickstarter, and Twitter--didn't make an investment last year. Roelof Botha, the prominent Silicon Valley investor who backed Instagram, Square, and YouTube, opted not to lead an A round. Paul Graham--as in, the guy behind the early-stage startup-mentoring program Y Combinator, which helped usher Airbnb, Dropbox, and Reddit into the world--decided that he would accept fewer than 50 companies into his winter 2013 batch of startups, 40% less than the class size the previous summer. Wilson took a stab at explaining his reticence in a blog post, when he wrote, "The wind that has been at our back for seven to eight years in consumer Internet is no longer there. It's tougher sledding and will likely continue so for some time to come."
To read the full, original article click on this link: When It Comes To Tech Investing, VCs Are Venturing Forth Cautiously | Fast Company
