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vast majority are dumb af
and you have to convince really dumb — but well-educated — people to get funding
Thats interesting
Trying to win a bet with a friend
You can't make a lot of money until a very long time and you have to be high up
a lot of the investing is following the heard -- if a big name puts in, other VCs want to follow.
A lot of VC activities are focused on raising money for managment fees and getting as many funds going as possible, rather than great investing and making money on carry
Unsure how much of this is not well know. And also subjective to firm.