The article claims that Fairchild Semiconductor was the first venture backed startup and describes the "fundamental shift [venture capital] represented in the relationship between capital and labor." Capital was now chasing talent.

A lot of valid points to support how an economy in which capital chases talent is novel, including "Silicon Valley operates under a fundamentally different system that continues to drive innovation by removing significant risk factors for talent to work on new developments." And in the context of traditional relationships between capital and labor, the author's point is valid that capital, relative different economic models, chases talent in the VC industry.

Yet I wonder how this premise can fully accepted when so many entrepreneurs are still chasing capital to fund their startups and even when money is 'so easy' to raise in this market, VCs are still seemingly exhalted? Obviously for the most competitive investment opportunities (e.g. to back a seasoned entrepreneur with a stellar idea and early traction in a multi-billion dollar industry) capital is certainly chasing talent. But it looks like this 'talent economy' is still a two way street: talent continues to chase capital as well.