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Short term,compensation is better an an engineer/PM. Long term you’ll definitely earn more as a VC due to the fund carry. Some folks have the “I’m a single Cog of a giant machine” realisation and want to do more meaningful. Your work at a VC is much more visible
You do know that not everyone in tech is an engineer or PM right?
Uh, sure, but seeing as that person was an engineer, and most engineers I know who move away from coding become PMs, it seems like a reasonable question.