The venture ecosystem went from cottage industry outsider to institutional insider – from a nascent practice to a consensus component of institutional portfolios. The result has been the industrialization–and bankerization–of venture. Firms that make dozens or even hundreds of investments per year, relentlessly focused on assets under management,... See more

All this taste talk has set off a minor arms race to prove that you have it. Founders show off their “taste” with garish high-end swag and pretentious company names like “The X Company of Y.” Suddenly, SaaS startups are hiring “storytellers,” documentary filmmakers, print magazine editors. They are throwing soirées with Luma waitlists and... See more