Jason Caplain has some good notes from an NVCA meeting today. Good overview of the where the markets are at, where the shift in the tranche financings are going, and what has happened to some of the VC partnerships (relative to past speculations). What caught my eye was this (emphasis is mine):
There is a very healthy IPO and acquisition market with good companies that have gone through bad times.
Paul Brown and I used to use a term for this. Not a very good marketing term, but for early-stage companies that survived for more than 18 months after the nuclear holocaust, cliff dropoff in customer prospect propensity to buy, and bubble 1.0 fallout … well we referred to such companies as the "cockroaches" of the industry to reflect their resiliency to survive. Looks like cockroaches are coming into favor. All together now, "We are the cockroaches."