[hga]

A potential???

If you want less of something, or don't care if you get less of it, you tax it.

Totally ignoring the fairness issue (it's certainly a debatable point), starting from this status quo how can you possibly believe this change will not cause harm?

About the only way I see for the medium to long term is that VC firms restructure, which might end up with a neutral or even better situation (Fred Wilson is hoping for the latter, but I didn't find his case very convincing).

But in the short term it's hard to see how it's going to be anything other than a mess not to mention a distraction from the real job.