The Changing Focus of Due Diligence

In the heady days of the first dot-com boom, a sketch on a napkin and a sparkle in a coder’s eye could net a nice seed round from angel investors. Subsequent rounds, it seemed, would flow like chocolate at a fondue party.
Then the bubble burst and napkin sketches turned into business plans and three-year forecasts. Investors became a little more sophisticated and entrepreneurs had to learn to