There has been a fair amount of analysis of the so-called venture capital overhang. CBSMarketwatch has its own 'springtime for entrepreneurs' analysis, that the overhang from 1999-2000 funds is leading to rapidly increasing deal pace, as the funds wish to invest quickly so they can raise their next fund when the gettin' is good. The commentary includes the obligatory cautionary note: "I am concerned that we may see a return of the trendy vanguard armed with inflated egos and misguided motives in pursuit of an IPO, even though others don't see it." Red Herring has run a series on the overhang, with interviews of many VCs. Interesting, the VC opinions run across the map. Tim Draper weighs in with the there-is-no-overhang opinion. Nevertheless, valuations are 'going crazy' as one VC notes, meaning overhang or not, the Venture Bubble Echo continues.