Broken VCs Aftermath
Apparently (apparently!), I have said something that hit a nerve. When I posted my thoughts on the whole issues as to whether or not the VC model was broken, I had no idea that it would be the most popular post I have ever written (and it’s not even noon on day 2). Crazy.
Predictably, some of my VC friends showed up to the conversation to point out that 1) am angry, and 2) that the “good” VCs don’t have associates. First, I am not angry. It’s easy for the VCs and their ilk to cast those aspersions, but the reality is that they have a fantastic business model, and they are going to fight to the death to protect it. Second, the venture firm that completely blew me up at my last company has no associates. One day I will tell that story, but even firms with only partners can behave badly.
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