I continue to be surprised how nasty VCs get when cos fail. This is not where the returns are. Why fight the founders over the scraps?
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what do they say when you ask them why? Perhaps this is a sign of a bad (not smart) VC.
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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there is no future it's 100% fighting for today, no "this is going to be huge anyway", no need to have good relationship after
End of conversation
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still! they are in the game of extreme risk! everyone knows the 10% (or even 1%) is where the returns are. It's irrational!
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investing in the startup in the first place was probably irrational too. It's a double edged sword.
End of conversation
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many people hate to lose more than they love to win
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when more than 1 vc - I think they don't want to let anyone else get a better outcome
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I think perhaps the scraps are easier to quantify and understand than the functioning enterprise. IP=$X, inventory=$Y
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maybe it gives them a feeling of power in a situation where they are in fact powerless to impact the outcome.
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