I temper my mistrust of unquestionable authority by venture capitalists, but only because such arbitrage ultimately poisons its well. The comeuppance of sorts left a massive pageantry of wannabe entrepreneurs in the wake of their destruction, courtesy of the causal connection to malformed investment risk.
Or, in the words of Albert Einstein:
“Mistrust of every kind of authority grew out of this experience, a skeptical attitude toward the convictions that were alive in any specific social environment — an attitude that has never again left me, even though, later on, it has been tempered by a better insight into the causal connections.” – Albert Einstein
Yet, ultimately, we are all responsible for the human operating-systems that determine what can be discovered. And it is time not to lambast VC but to reinvent it from the top if we want to induce a different and more meaningful socioeconomic outcome for innovation.
From “There never was a Tech bubble” from February 2010.
