In an interview with Bloomberg Technology, Google Ventures founding chief, Bill Maris, states that he does believe we are at "peak VC."
That being said, Maris has a new "reconstituted, smaller, more focused" fund called Section 32, With $150 million in the fund, he suggests that having a smaller fund allows him selectivity in terms of who he hires and what he invests in.
Maris was asked to live in Silicon Valley in a previous VC endeavor in which he had investors. Being from San Diego now, he went a different route.
Using his relationships he has built in the past ten or so years, Maris will be focusing on medical and health technologies, artificial intelligence, machine learning, VI, etc. He's also thinking about agricultural tech and the food chain as an inviting place to invest.
As a note, he mentions that there's too much money in trivial things. Trivial things? How to get more ads to consumers. He's more concerned in putting his money where it will matter.
Full article here: https://www.bloomberg.com/news/articles/2017-03-14/ex-google-ventures-ceo-maris-said-to-raise-100-million-fund