I recently attended the Medical Device Growth Conference in San Francisco. Not surprisingly, the mood was pretty grim given the current financial environment. One of the discussion topics was whether the VC business model was dead. Alan Patricof from Greycroft Partners recently wrote an article in the NY Times about the subject. With fewer exit opportunities and less funding, the VC industry will likely contract. I doubt many people will argue that a number of VC funds will not survive the current financial crisis, but is the entire industry dead? Phil Young, from U.S. Venture Partners, was a member of a panel and reminded everyone that he’s been hearing that the model was dead ever since he started working in venture capital over 20 year ago. As the financial landscape evolves, the VC industry will likely adjust with the changing environment as it always has.