Prop 23 Update: Silicon Valley's smart people having doubts, VC confidence drops

Russ Steele

During the Prop 23 debate or local left tried to convince us that Silicon Valley would save the California
economy, even though AB32 would continue to put more job killing regulation in place to reduce CO2.

Now the smart people in Silicon Valley are not so sure about creating those jobs, according to an article
in the  Silicon Valley Business Journal:  Silicon Valley VC confidence drops

Silicon Valley venture capitalists confidence dropped significantly in the second quarter, according
to a report released Friday.

The survey of 35 venture investors dropped to 3.66 on a five-point scale, down from 3.91
in the first quarter. A reading of five represents high confidence and 1 is low confidence.

It is 30th quarter that Mark V. Cannice, professor of entrepreneurship and innovation at the University
of San Francisco (USF) School of Management,has done the survey.

"While many of the participating venture capitalists continued to be confident in the future prospects
of the high-growth entrepreneurial environment, an increasing number found reason for caution due
to worrisome macro economic trends, seemingly inflated valuations, uneven capital availability,
and regulatory constraints in the life science arena," Cannice wrote in his report.

You can read the rest of the report here.  Now what?