Buzz Archive:
NVCA Annual Survey Forecasts Challenges for Venture Industry in 2009
by Emily Mendell and Laura Cruz, 12/23/2008
As we approach the last week of the year, can't you almost hear the sound of Guy Lombardo singing "Auld Lang Syne?"The most commonly heard song on New Year's Eve is an old Scottish song first published in the late 1700's by the poet, Robert Burns. A tradition was born when Guy Lombardo and His Royal Canadians played the song at midnight at a New Year's Eve party at the Roosevelt Hotel in New York City in 1929. "Auld Lang Syne" translates as "old long since" and means "times gone by."
The National Venture Capital Association (NVCA) is closing out the year and bringing in the new year with the recently released results of the annual NVCA Predictions Survey. With more than 400 responses, the survey clearly indicates that U. S. venture capitalists are predicting a difficult year for the country's economy, the capital markets and the venture industry for 2009.
So, as we prepare for 2009 by reading the very enlightening and sobering forecast by NVCA's surveyed venture capitalists, perhaps "Auld Lang Syne" and remembering "times gone by" is more poignant than ever.
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