Bill Gurley · GigaOm · 11 December 2012
“If you go back about five years, a whole bunch of people said, well Venture's dead because there's infinite angel money and you can start a company for cheap and you won't need Venture anymore.”
Verbatim excerpt with a timestamp. The full recording is at the source; we link out and do not host it. Everything Bill Gurley is on record saying.