The main harm caused by the VCs, or by very many other professions/priesthoods(Doctors! Judges!) Is the preservation of an 'orthodox view' in direct conflict with the evidence and with the tacit knowledge of everyone acquainted with the field.https://twitter.com/ben_r_hoffman/status/1204492407917744130 …
When I check the source and drivers of these orthodoxies, they mostly don't seem to come from the membership of the relevant class but mostly from a) the guilds (ABA, AMA), and b) journalists covering the space.