Smart venture investing quote

Jeff Nolan writes something very insightful about the potential changed nature of venture investing (which is near and dear to my betaworks heart):

"[I]n many ways I recoil at the notion that true invention and innovation matters less today, but it does appear to be the case. The fact remains that most acquisitions are in the $30-60 million range so if you want to generate a return across an entire portfolio of deals you simply have to adjust the economics of the deals and the process by which you engage them. Jeff Clavier is the epitome of this new model."