Great data from on the power law of venture: 10 companies are valued at 50% of the total VC money invested over the last 10 years -> “Out of 21,000 venture financings from 2004 to 2014, 65% lost money. Two and a half percent of investments made 10x-20x. One percent made more than 20x return. Half a percent — about 100 companies — earned 50x or more.” There’s been $482 billion of VC funding in the last ten years. The combined value of the ten largest venture-backed companies is $213 billion. So ten venture-backed companies are valued at half the industry’s deployed capital.