Barry Ritholtz, Columnist

Marc Andreessen Answers the Tech Valuation Question

The venture capitalist says many investors don't grasp what's changed.

Remember Netscape?

Photographer: Scott Ellis/Bloomberg
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Are you a venture capitalist, angel investor or startup entrepreneur? Do you seed new technology firms, or write about them, or work for one them? Then you are probably spending way too much time and energy obsessing about valuations.

So says the man who invented the first commercial internet browser, sits on the board of Facebook Inc., and helped back companies such as Airbnb Inc., Box Inc., Groupon Inc., Instagram Inc., Lyft Inc., Pinterest Inc., Skype Inc. and Slack Technologies Inc.