Venture Debt

"There has never been a free lunch in venture debt," he says. "I believe that the data for all these models is skewed because it assumes, again, an environment in which companies keep raising up rounds" The asset as an asset class, we can make fun of it all we want,. It's actually performed pretty well. But even if you think that this asset class is legitimate, I don't understand why banking deposits could ever be used to fund it."