You may as well say "why didn't I pick the correct lotto numbers". The answer is "because you didn't".
Lotto numbers all look the same up front. Startups all look different, so a good VC can be better than a bad VC if they just know which differences to look for.
And thats their job to predict which startup will make the most money or produce most value. In capable of doing shows their weakness, so anti-portfolio is quite relevant IMHO.
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Lotto numbers all look the same up front. Startups all look different, so a good VC can be better than a bad VC if they just know which differences to look for.
I don't think this is an obvious claim. There's no strong evidence that VCs are capable of differentiating good startups from bad.
VCs manage to turn a profit?
My understanding is VCs (as an industry) fail to beat the S&P500 returns, so no, they don't turn a profit.
And thats their job to predict which startup will make the most money or produce most value. In capable of doing shows their weakness, so anti-portfolio is quite relevant IMHO.