Being a venture capitalist is about giving entrepreneurs other people’s money to create businesses you think are good ideas. Most of the ideas will fail because they were actually bad ideas but the good ones will be so successful that no one remembers the bad ideas.
It’s a remarkable feat of self delusion that an industry of people who by definition are wrong most of the time, became a subclass of Twitter influencers who lecture everyone about how right they are all the time.
@carnage4life well it's not that they're wrong since they know the ideas are risky.
When an enterprise fails it proves them right: they said it might fail, and it did.
If a VC never had a failure, that means they were probably passing up investments that they should have agreed to. It would mean they were too conservative in their investing, THAT would mean they were wrong.
