There’s no incentive for VCs to do better. They’re playing with Other People’s Money, and the owners of that money aren’t demanding better.
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I really feel for the Endowments and Pension Funds who have money sunk into VC that they’ll never see again.
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But because Yale made a bunch of money in VC, they all have to try and get on the bandwagon, too.
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I personally am convinced that revenue is less important than an irritating product launched at the right time. http://blog.capitalandgrowth.org/niko-bonatsos/
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