"In the early days of Valar, a lot of VC’s passed on us because they didn’t believe we could raise the money." Yes, VCs will pass on a company out of fear that other VCs will pass on it. This is institutionalised insecurity. Venture capital emerged from opportunity of frontier technologies;... See more

There are two types of VC: 1) busy complaining / thinks VC is about access 2) busy investing / knows VC is about outliers The phenomenon experienced by the first group is called "money chasing deals", and has been the subject of study going back to the 90s.... See more

The quote below, from @WillManidis, is worth the consideration of every venture investor, GP and LP. (It's also core to the mission of @equidam: making idiosyncratic ideas more legible for finance.) As a product of incentives, capital in VC has gravity. It is inclined to collect in pools,... See more