So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster.
Sentiment: NEGATIVE
There are lots of ways to make money in venture capital, and there are even more ways to be mediocre. The industry has too much money and too many smart people chasing too few great entrepreneurs.
Venture capital is always wanting to go up market.
Venture funds get beaten up for not investing in important things. Okay, if you want venture funds to invest in important things, then don't penalize or make fun of them when those important things don't work.
I don't think a lot of people have been entrepreneurial about venture capital.
The problem with taking venture capital is if you take $5m from someone, it may feel great; you may feel like they're validating your business model. But they're giving $5m out to 20 different people, hoping one of them will be a hit. They don't really care if it's you.
It is intellectually dishonest to lump venture investors with hedge fund and buy-out investors.
First of all, in terms of investment in Internet-related developments, venture capitalists - once burned - are now very cautious and are investing in areas that actually make business sense.
Venture capitalists buy minority positions in young companies they think will grow quickly; buy-out investors buy most or all of companies they think can be turned around by fixing a few basic things.
I'd been a great angel investor, but professional venture capital was clearly not the right thing for me.
Every venture capitalist says at some point, 'I wish I could run this company myself' - to be the entrepreneur instead of the investor.
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