Venture capital is shrinking so quickly that jr investors are running to reddit for career advice

One of the most wasteful & parasitic enterprises in human history. One day they will struggle to understand why we let such a stupid system thrive. Why is our technological development driven by what amounts to a lottery system for cloistered networks of libertarians?

"The one thing in venture most founders don't realize is how many "family" connections exist here... You might be talking to a VC and there's a high chance that their brother / sister / spouse or in rare cases offspring work in venture as well. Be careful before you share

Over the past two months, I've shared literature on historical "VC wrongdoings" in a number of different forms. Some may be more than just a question of ethics: - Collusion amongst incumbents to block competition - Neglecting due diligence in more complex situations -

One thing I find slightly amusing is people trashing the OpenAI presentation being the same type of people to think all an org needs is engineers. Are people who can talk and explain things well and be presentable, but who are "non technical" important to a business, or nah?

"The consensus in recent literature is clear: proactive deal origination is pivotal for achieving superior outcomes in venture capital investments." (source: "Optimizing Venture Capital Deal Origination") Experienced investors will recognise the importance of go-to-market

This is akin to a Ponzi scheme for those uninitiated Same asset being sold multiple times amongst the same managers to move investor money around

One of the great ironies of the LP world is that most take their thematic/‘fun’ bets via venture capital commitments. If you’re going to violate fiduciary duty, don’t do it in the highest dispersion and most illiquid asset class.

"Possibly the most notorious example [of University of Chicago's poor investment decisions] is the university’s foray into cryptocurrency. Four sources…allege that the university lost tens of millions investing in crypto around 2021." stanfordreview.org/uchicago-lost-…

Jay Kapoor This mindset and his tweeting this out to the ecosystem are clear signs the asset class is broken. This tweet emerges from a model looking for quick markups to raise their next fund to pull another decade of fees. Liquidity for LPs not considered. Everyone’s cooked