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Some investors may grumble about entrepreneurs wanting 'unicorn valuations.' But let's be honest: most investors want them, too, and are supporting the massive capitalization of these companies.

I work with tiny companies, so I don't really live in unicorn world, to be honest.

Each major wave of technology innovation has given rise to one or more super-unicorns - companies that could change your life to work at or invest in if you're not lucky/genius enough to be a co-founder.

You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make multi-million dollar bets on unproven ideas and inexperienced founders. People who can make decisions quickly, and who spend their time trying to help entrepreneurs make the most of that cash.

Many entrepreneurs, and the venture investors who back them, seek to build billion-dollar companies.

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.

The idea is that angel investors are supposed to be wealthy people supporting people who need funds, typically who are not wealthy, and don't have the ability to do it themselves.

I don't think a lot of people have been entrepreneurial about venture capital.

I think the biggest myth entrepreneurs have is that the growth and performance of their startups depends more on their entrepreneurial talent than on the businesses they choose.