26 August 2013

VCs, Dumb Money, Silicon Valley, Poor Returns

10-Year Study Erases VC 'Smart Money' Claims -SVW: " . . . It's easy to see how "smart money" VCs end up with dumb money returns, when they herd into the same types of me-too startups and ruin the market for each other; or force their portfolio companies to pivot their business plans based on the trend du jour in their Twitter streams. Add to that, imposing toxic term sheets onto a startup's founders -- and it's no wonder they are increasingly despised in startup communities on both coasts. The VCs are extraordinarily bad at picking winners. It might be better to assign investments to a wide variety of startups on a lottery basis. . . ." (read more at link above)

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