Marc Andreessen: Series A investments still bread and butter of A16Z

> It is pretty typical for an investor to pronounce one thing and then do something totally different.

They didn't do that. The original article was one of their partners saying they weren't doing as many consumer Series As anymore, and were shifting toward doing A rounds for enterprise companies and B rounds for consumer.

A bunch of commenters on Hacker News misinterpreted the article as "A16Z isn't doing any Series As", so Marc Andreessen jumped in himself to clarify their original point.

Now it's being misinterpreted again. Read the original article and Marc's comments--they've been consistent with this message the entire time.

VCs as a group move as a herd just like every other class of investors. Enterprise startups performed very poorly between 2000 and 2008 (in large part because enterprises all but stopped buying new technology from new companies) and so they went badly out of fashion. This naturally created a shortage of innovation in important categories which started to get rectified by a new wave of enterprise startups starting about then, and then those startups collectively have performed very well financially including as IPOs, which now has VCs as a group all lathered up for enterprise startups.

We like to think that we are observing this phenomenon but still differentiated enough in our thinking and our network that we can pick a new set of winners now. Time will tell if we are right or if we are just part of the herd :-).