Are Silicon Valley investors worried about the economy? A new survey says… maybe. University of San Francisco professor Mark Cannice polled over 30 tech industry venture capitalists and found the first decline in economic confidence by VCs in two years. According to Cannice’s survey, respondents’ average ranking of the economy dropped from 4.02 to 3.89 on a five-point scale.
The survey, which includes only a small sampling of venture capitalists and isn’t intended to be a comprehensive industry report, is conducted every quarter by Cannice. In an interview with the Wall Street Journal, the professor attributed the decline to high valuations and what he calls an “overheated” market. Last month, prominent tech investor Marc Andreessen told startups to “worry” and expressed his feelings that the booming tech market of the past decade, which largely weathered the 2008 recession, could soon go into a downturn.