what do they say when you ask them why? Perhaps this is a sign of a bad (not smart) VC.
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I know why they do it. They're disappointed, and it makes them petulant, like children.
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Rationally they know this is not where the money is, but they can't help themselves.
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although no excusefor nastiness, all VCs have fiduciary duty to get best deal for their LPs/investors. Applies in both up/downside
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That duty implies they should spend their finite time looking for and helping cos that will succeed.
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That should be the focus of course, but its also about minimising losses if you can. That is not a process to just walk away from
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Parable of the Scorpion and the Frog. "I cannot help it, it is in my nature..."
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They want to establish a reputation for demanding what's theirs, and don't realize they're establishing a reputation for being nasty.
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The former is theoretically useful since it dissuades people from trying to take advantage; the latter obviously harmful in practice.
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@jesslivingston don't they have a fiduciary duty to their LPs to return any capital that is legally theirs? Reputational damage worseThanks. Twitter will use this to make your timeline better. UndoUndo
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@PhillipKingston also do t forget VCs are often playing with others people money. They need to be more accountable than sympathetic.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Loss aversion. It hurts when you lose. https://en.wikipedia.org/wiki/Loss_aversion …
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They really miss the big picture when they burn the entrepreneur over what? great point.
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I get surprised by the fact that VCs are surprised at such failures. Failure does not happen over night.
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loss aversion
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when the founders have fleeced the company
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there are only a few VCs that are good, everyone else is just a shrewd businessman. They will fight to the last penny.
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