Investors assume that if they're hearing about you first from you, you can't be any good. If you were good, they'd already have heard about you, because you'd have found a way to get introduced to them by someone they trust.
So you're admitting that they're social-proof whores who refuse to think for themselves, even about the subject matter of their own jobs?
VCs should be mortally humiliated by the fact that the game they're running is, after all is counted, a feudal reputation economy-- all flashes, no substance.
Yet people are surprised that VC, as an asset class, has been a stinker for the past 13 years.
So you're admitting that they're social-proof whores who refuse to think for themselves, even about the subject matter of their own jobs?
VCs should be mortally humiliated by the fact that the game they're running is, after all is counted, a feudal reputation economy-- all flashes, no substance.
Yet people are surprised that VC, as an asset class, has been a stinker for the past 13 years.