I think this is going to end badly for a lot of these investments. For one, its too much money in the individual companies. For another, there are too many “me too” investments. Overfunding and me too investing are the two most rampant diseases in the venture business today.
It looks like mobile gaming is the latest industry to catch that disease. And its too bad. Because its a nice niche market that could have produced decent returns for a few VCs. But not for the whole industry.