[flyinglizard]

I have no doubt about Oculus - I just wonder how the startup landscape will look if your model proves successful and other large VCs begin implementing it, instead of their more traditional returns model. Being that only the largest, most successful funds can partake in this huge money game, this may significantly reduce the overall market capital available for Series A investment and create an even narrower funnel.

[pmarca]

I'd argue you're actually seeing the emergence of a "new series A"/"first money in" investor category. Often angel investors who raise seed funds or small venture funds fit in this category. These include (but not limited to) Mike Maples/Floodgate, Aydin Senkut/Felicis, Hunter Walk/Homebrew, Aileen Lee/Cowboy, Michael Deering/Harrison, and several others. Also see Heavybit for a recent category-specific innovation. Also Union Square, Foundry, Upfront (Mark Suster) do a lot of this. I think there may be more high quality investors at the early Series A tier than ever before, but many of them are new.