Friday, July 19, 2013

VC Investing in Q2: It’s Down! It’s Up! It’s Both??? How’s That?

Delighted as we all are to hear good news regarding our Innovation Economy, this press release briefly cheered us this morning.

Alas, our delight quickly fizzled, melting away as we recalled publishing the following piece earlier this week.

Have we joined Heinlein and Asimov in  parallel universes?  Or should we just order a T-Shirt showing the Three Stooges pointing in different directions.

What’s Up, Doc?

First off, we are fully aware that the data from each report comes from different sources.  Our Tuesday report comes from CB Insights, that same firm that produces the HALO Report on Angel Activity in cooperation with the Angel Capital Association (ACA).

Today’s source is the venerable MoneyTree™ Report from PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters.

Different sources, different methodologies, can understandably produce slightly different results, but to have any credibility at all major trends should be the same. We have the data from CB Insights, and fortunately the NVCA post their results online where you can download them.

Having examined the data, we’ll now rewrite their headline in our format.

VC Deals in Q2 2013 are up vs. the prior quarter but down year-over year; funding is down 9% vs. last year according to NVCA.

Or try the following:

VC Deals and Funding Both Decline in the first half of 2013 as compared to previous Two Years.

‘Nuff said?
 "‘When I use a word,' Humpty Dumpty said, in rather a scornful tone, ‘it means just what I choose it to mean—neither more nor less.'

‘The question is,' said Alice, ‘whether you can make words mean so many different things." 

‘The question is,' said Humpty Dumpty, ‘which is to be master—that's all.'
From "Through The Looking Glass and What Alice Found There"

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