Consumer Internet investing seems to have split off from traditional Venture Capital, and is creating a new category of VC's: Lean VC's.  I think you can blame Customer and Agile Development for a small part of it.

Here's why.

Electron-based Venture Capital
When I first came to Silicon Valley the world of Venture Capital looked pretty simple. VC's invested in things that ran on electrons: hardware, software and silicon.  While individual VC's inside venture firms specialized in particular...