In 2013, however, the negative narrative flipped with ferocious speed: more IPOs, rising returns, and broad-based success that included, but was not defined by, Bay Area Internet companies. The turnaround knocked nonbelievers upside the head with giant bags of money and will help enable the next great wave of innovation. Even if tech valuations sag or the stock markets sink, venture capitalists will have full wallets. By proving the cycle, 2013 has created something sustainable for 2014 and beyond.
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