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Friday, March 7, 2008

VC Symposium

Just a quick update on the Birmingham Venture Club Symposium yesterday.

We had a good crowd of 40-50 attendees at the symposium graciously hosted by Burr & Foreman in their beautiful conference room.

The panel covered a broad range of topics from the state of the economy, aka "Are we in a recession?" (which most felt we are or at least pockets of the economy are) to the current environment in the State of Alabama (which most seemed to see as under served). Overall, it was a very good event and one which I hope continues in the future.

The most interesting thing to me probably related to the realization that although the economy is slowing, deals are still getting done; however the interplay between a lot of VC dollars chasing fewer deals driving prices up and an accross the board increase in due diligence and the proliferation of good secondary market opportunities driving prices down seem to be largely cancelling each other out at the moment, but it is unclear if that balance will maintain.

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