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Mark Suster has had one of the best insights into the changing landscape of the venture capital industry I’ve ever seen: Amazon’s technology platforms made it really cheap to build a tech company, and that changes everything:

I still think it was Amazon that created this category not the other way around. Where open-source computing gave us a 90% reduction in our software, Amazon gave us a 90% reduction in our total operating costs. Amazon allowed 22-year-old tech developers to launch companies without even raising capital. Amazon sped up the pace of innovation because in addition to not having to raise capital to start I also didn’t need to wait for hosting to be set up, servers to arrive, software to be provisioned.