The way venture capitalists see it, the current financial crisis could be more devastating to the tech industry than the bubble was in 2000. Entrepreneurs, on the other hand, are less bearish.
Roughly 67 percent of entrepreneurs and tech workers surveyed by law firm DLA Piper said the current crisis won't be as damaging as the last round of economic pain in 2000. By contrast, 47 percent of venture capitalists said the opposite was true.
"Venture capitalists perhaps are less optimistic because they're more focused on exit opportunities," says Peter Astiz, a partner at DLA Piper's tech practice and the principal architect of the survey.
The survey also found:
- Economic troubles could linger for at least a year or longer -- or so said 85 percent of the participants in the survey.
- The IPO market may not rebound until 2010, according to 55 percent of the respondents.
- More than 75 percent of the participants said they've already been affected by the downturn.
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