Venture Capital doing it tough

I know i've commented before about how venture capital is doing it tough with so many web apps going cash flow positive/being bought out without the need for funding (or significant funding that angel investors cant provide on their own) but seriously this latest news that First Round Capital are doing without their chauffer driven cars and having to walk is a real shock to me.

I'm not sure that harden New Yorkers are ready to see the sight of skivvy wearing khaki clad VC's standing on the street corners of New York with tin cups and cardboard signs that read "please help"   :)


Cheers,
Dean