Gauging the frothiness of the webby/techy/san-fran VC market.
Based on the NVCA statistics on the venture capital industry, there are [approximately] 1,000 early stage financings every year….
And somewhere around 50 - 100 of them exit for more than $100mm every year. So 5-10% of the companies financed by VCs end up exiting for more than $100mm.
Mathematical PS: These are value-at-risk numbers, just upside-down.