That kind of nonsense is why I left VC-istan. Amazing how little has changed (in terms of VC behavior) over the past 12 years.
VC is in danger of becoming a second-tier avenue. As soon as a credible, scalable alternative comes in, no one's going to deal with that nonsense. The collusion, aggressive management, age discrimination (in a field where you don't know what you're doing until 10-15 years in at least), insistence on locating in an extremely expensive place, and disproportionate reward for degenerate risk-seeking (with others' money and careers) are going to doom them eventually-- although I have no idea when "eventually" will be.
Whatever happened to passive investors who were happy to let smart people work magic? I feel like most of the world is people injecting noise into already-working processes just to have it be their noise.
VC is in danger of becoming a second-tier avenue. As soon as a credible, scalable alternative comes in, no one's going to deal with that nonsense. The collusion, aggressive management, age discrimination (in a field where you don't know what you're doing until 10-15 years in at least), insistence on locating in an extremely expensive place, and disproportionate reward for degenerate risk-seeking (with others' money and careers) are going to doom them eventually-- although I have no idea when "eventually" will be.
Whatever happened to passive investors who were happy to let smart people work magic? I feel like most of the world is people injecting noise into already-working processes just to have it be their noise.