A VC responds to Joel Spolsky’s ChangeThis Manifesto piece titled Fixing Venture Capital and looks at three criticisms of VCs:
- VCs only want 100 to 1 returns and are willing to risk
everything to get them while entrepreneurs want a safe high probability
bet. - VCs are so inundated with business plans that they become focused
on the process of whittling down opportunities instead of finding the
best opportunities. - The "standard VC deal" is unfair to entrepreneurs and smart ones won’t take it.