Some excellent pearls in this conversation with Fred Wilson of USV in NYC today. Among other things, he says that in a three-month window in the fall of 2007 his firm funded Twitter, Tumblr, and Zynga, which may turn out to have been a miracle quarter. In more sobering news, he says is is passing on more deals than ever. Why? Because they’re expensive, and he’s “cheap”. Welcome to my world.