links for 2010-03-07

I will tell you that as hard as it is to raise money as an entrepreneur, it’s twice as hard to raise a fund. There’s a tremendous amount of doubt among institutional people [when it comes to microfunds]. When I wanted to start [Baseline], I had access to [institutional LPs] through KP’s partners [alongside whom Anderson had worked earlier in the decade] but none of them were interested. It was too subscale; they were used to writing $30 million checks. That may be changing now.

The near-disappearance of credit is also striking. "It's really a 'have and have-not' market," Quattrone said. While each of the top dozen technology companies has $5 billion to $30 billion of cash and "a big advantage over the others," credit is largely unavailable to mid-sized companies. "It's going to take a longer time to come back…. We're going to need to get the credit flowing in the economy again before things really open up."