Billion-Dollar Baby Dot-Coms? Uh-Oh, Not Again - New York Times: "Even George Zachary, the partner at Charles River who did the Odeo deal, said, 'We're seeing a valuation creep like we saw five or six years ago.' Valuations are hardly at 2000 levels, but, Mr. Zachary said, 'we're seeing the same dynamic as then.'
So far such inflation has been limited to so-called quality deals - but as Paul S. Kedrosky, a professor at the University of California, San Diego, who studies venture capital, noted, 'You're seeing an inflation out there for deals people deem as quality, but what they see as quality is pretty whimsical.' "
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