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> Asking a VC to determine whether or not there is a VC bubble is like asking a mortgage broker or real estate agent whether or not there was a housing bubble during 2006.

Except he's the person dictating the flow of money. It's more like a housing buyer saying there's good investments despite signs of a bubble.

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But it isn't his money: VC funds raise money from other investors (aka limited partners). It's like asking a banker or hedge fund manager if there's a stock market bubble. They won't say yes because if investors pull their money out of equities, the banks and hedge funds are screwed.

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