Aspect Ventures co-founder Jennifer Fonstad talks with Recode’s Kara Swisher about how venture capital works in 2018, when Silicon Valley entrepreneurs have access to more money from more sources than ever before. But that that money is not spread out evenly, Fonstad says: There’s a lot of very early “seed” dough, and a lot available to help succeeding companies grow bigger, but not enough to help them cross the “chasm” in which so many startups fail. She also talks about her 17 years as an investor at Draper Fisher Jurvetson, why Aspect is betting on the “picks and shovels” of the blockchain instead of currency, and why she’s excited about data-driven advances in health care.

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