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If Target can figure out a teen girl was pregnant before her father did, venture firms should be able to identify founders before they start companies. All it takes is the right data. 既然塔吉特（Target）可以先于少女的父亲知道她已经怀孕，那么，风险投资公司也应该有能力在初创公司诞生之前，便锁定潜在的创始人。所需要的只是适当的数据而已。 That’s where venture capital—ever evolving—is headed. As Mark Susterpointed out last week, the venture capital landscape has become increasingly bifurcated. Seed funds are springing up everywhere, representing 67% of all new funds created, and large funds have gotten even larger. For the early stage investors, this means increased competition and frothy valuations. By the time a founder sets out to raise a seed round, the startup’s valuation might be $10 million. 这正是不断演进的风险投资行业未来的发展方向。正如马克•苏斯特上周指出的那样，风险投资行业的两极分化日益加剧。一方面，种子基金如雨后春笋般崛起，占新建基金总数的67%，另一方面，大型基金则变得日益庞大。对于早期投资者而言，这意味着竞争日益激烈，进而导致估值泡沫。等到一位公司创始人开始进行种子期融资时，其公司的估值可能已经达到1,000万美元。 One way to get around that is to invest even earlier. Invest before the company is a company. Before the founder even knows they’re a founder. Bloomberg Beta, the venture investment arm of Bloomberg LP, has been doing this for a year now. | 
