[horatiumocian]

This article seems to overlook the fact that even if Amazon, Ebay, Microsoft had a very small valuation at the time of their IPO, the founders, early employees, and probably some VCs held on to the stock for a long time after the IPO; thus all the founders became billionaires.

I think what he wants to say is that the next 10 years will be better for VCs (because they will wait much longer to exit than before, being able to get 500X returns). For founders, it will actually be the same.