Every single silicon valley old timer I've spoken to, says the same thing.

There was an almost magical time when the valley was almost nothing but computer geeks having fun, creating new stuff, and starting small businesses that relied on profits from sales.

This dream like reality is long gone, but I wonder if it may return some day.

Here's a question for anyone that does angel investment: How much does this decrease in availability of VC capital and exit options affect your decision to invest in fledgling startups?