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To: GVTucker who wrote (144226)	10/1/2001 3:40:20 AM
From: Amy J	Read Replies (1) \| Respond to of 186894

GV, RE: "Robert Rubin was perhaps one of the finest government officials we've ever had. And he realized that the twin goals of a strong dollar and a balanced budget were the keys to a solid economy. I worry that without Rubin around, we won't be so strident in trying to keep those goals." -------------- My brother, who is an Economist, knows Rubin. Rubin is a very intelligent, honest, and incredibly hard-working person. One day, when I was at the store giving the grocery clerk some money, I saw Rubin's name on a bill. It was sort of startling to see someone's name on a bill that was mentioned in casual conversation by my brother. Rubin is a very down-to-earth person. I suspect he touched a lot of people in many good ways. All the more reason for him to be truly famous. Regards, Amy J

To: GVTucker who wrote (144226)	10/1/2001 3:44:21 AM
From: Amy J	Respond to of 186894

Hi GV, Barry G, re: local economy (part II) Heard in Silicon Valley... I'm now hearing that VC's are rather eagerly moving forward with their investments these days, because they are trying to get deals and close them before the end of the year. Apparently, the VC firms in the Valley tend to believe this particular market has suddenly created an opportunity for them. (This is in direct conflict with what SJMN said, but maybe the delta is because there could be a difference in capital levels between old firms and new firms - many of the new vc firms got bit by the dotcoms, according to a vc I know at a traditional vc firm.) Angel channels appear to have slowed down considerably, according to people I know that are on the boards of many early-stage startups who have high visibility in the angel scene. I hear the average VC deals are down to around $5M level (formerly was $16M), though there still are large deals. VCs are mostly interested in a specific percent of a business, the cash-level isn't always the issue with them. In conclusion, the VC market looks good, Angel market looks bad. I think that means industry innovation will start slowing down, and if so, this should start to get visible in about a year when one would expect to see new products come out, if the Angel market has indeed slowed up. One personal advantage to this is, our startup has to less to worry about what may be behind us. The big picture though is, things may be too tight in the Angel channels, which really dictates what gets started in the way of innovation. Regards, Amy J

To: GVTucker who wrote (144226)	10/1/2001 6:11:59 AM
From: Amy J	Respond to of 186894

Hi GV, Barry G, more on local economy (part III) WSJ (Page C12) has preliminary figures from VentureWire showing venture investing for the quarter tumbled 72% with $6.7B going to 540 private companies (I know some of these folks. It's a small group, would be easy to get to know everyone if one wanted to), compared to $24B to 1,634 startups last year for the third quarter. That would make the average deal 12M, down from 15M. Even with the vc's back from their summer vacations and now looking for ways to work their capital before the year-end, I bet that figure eventually goes down to about 8M. Regards, Amy J