Update: Henry Responds below.
In short, Henry says Limited Partners are starting to default because of the liquidity crisis. This will force venture investing (primary or secondary) grind to a halt over the next couple of quarters.
Read the entire post here.
My questions for Henry are:
1. Are you absolutely sure that some venture firms have had limited partners default on commitments? As you know, the penalty for these defaults are severe.
2. Are your sources from any of the firms in even the top two quartiles of funds? In other words, are these peripheral funds or do we think of them as established venture capital firms?