"Little start-ups are ridiculously overfunded…The market is ridiculously overcrowded with early-stage investors…A lot of these early-stage investors will fund literally anything…This results in a talent drain, where the best talent gets diffused and work for their own start-ups…For young entrepreneurs, it’s really not helpful for some guy to come along and write you a check."

Sean Parker, the Napster co-founder and Facebook president