The silicon valley startup ecosystem is built around trading money for equity. But, the more entrepreneurial ventures I get involved in, the more I realize that it's not money that most of these companies need. It's advice.
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I'd say most VC firms offer (or claim to offer) more than just the money. Capital is ample so VC firms try to sell themselves on their networks, knowledge, etc.
True. I've never taken vc funding but based on my conversations with vcs, many aren't even qualified to give advice (no founding experience), and others just don't. That said, I kinda believe Gurley when he says he does it.