但硅谷的风投正忙于补充这一股池。
But Silicon Valley venture capitalists are busy replenishing the pool.
她们谈论的都是金钱，风投，汇率。
They talked about money, venture capitalism, the exchange rate.
首先，总体风投活动没有下降。
一位在硅谷从事风投的先生质疑我的决定。
One Silicon Valley venture capitalist questioned my decision.
风投对于企业的风险管理很在行。
但是风投们可从不提供那个选项。
或许我应该打电话给那位风投，接受他的赌约。
Perhaps I should call that venture capitalist back and take that bet.
这对风投支持的企业来说就是黄金门票。
但是对风投仍然是个问题。
但事实上，风投业的确有一点年龄偏见。
But actually it's true. Certainly there is some amount of age bias in venture.
担心在以后的资金周转中受到风投公司的压榨。
They fear getting squeezed by a VC that invests in a later round.
这可能是谷歌风投与其他风投公司的巨大差异。
This is potentially a huge point of differentiation for Google Ventures.
谷歌风投正试图从以下六大方面颠覆风投行业。
Here are six ways Google Ventures is attempting to disrupt the VC industry.
有些风投公司就会趁火打劫，提出很苛刻的条件。
在天使轮引入风投有一个危险：所谓的信号风险。
There is a danger of having VCs in an angel round: the so-called signalling risk.
还能整个项目从头跟到尾的风投公司已经不多了。
There aren't many other firms left out there that can do it from beginning to end.
我也听过他们被叫作“迷你风投”和“微风投”。
一个积极的迹象就是看有几家以色列的风投公司开张。
A positive sign was how many Israeli VC firms were opening their doors.
风投并不想要这些股份，相反，它们想要的是优先股。
VCs don't want these shares; instead, they want preferred stock.
目前硅谷的风投们更可能花2周而不是2个月的时间。
Nowadays Valley VCs are more likely to take 2 weeks than 2 months.
风投们会说你需要它们，而超级天使们会说你不需要。
The VCs will say you need them, and the super-angels will say you don't.
天使们与风投们最大的区别之一是他们想要的你的公司份额。
One of the biggest differences between angels and VCs is the amount of your company they want.
总之，如果你没有和传统风投很好的关系，别指望从这里起步。
In short, if you don't have a good relationship with a classic VC, don't start here.
因此过去天使与风投之间的明显界限已经变得模糊得不像样了。
So the previously sharp line between angels and VCs has become hopelessly blurred.
如果披露未上市的、获风投支持公司的财务数据，会毁了它们。
If you disclose the underlying financials of still-private, VC-backed companies, you will destroy them.
但是事实是，还没人知道，连风投们和超级天使们自己也不知道。
But the truth is, no one knows yet, not even the VCs and super-angels themselves.
而且那将导致顶级风投与超级天使们之间的品牌鸿沟逐渐被侵蚀。
And that will cause the brand gap between the top VCs and the super-angels gradually to erode.
而且那将导致顶级风投与超级天使们之间的品牌鸿沟逐渐被侵蚀。
And that will cause the brand gap between the top VCs and the super-angels gradually to erode.
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