Marc Andreessen nails it again:
How VCs spend an awful lot of their time, and why you should feel sorry for them:
My friends who are VCs seem to spend a surprising amount of their time working with their failing companies.
The reason goes right back to the definition of a VC’s ideal investment: their winners are succeeding — they don’t need very much help.
Some of the best VCs in the industry spend most of their time on their successes, helping to boost them to higher and higher levels of success.
But generally, life in the VC trenches seems to consist of trying to jumpstart or otherwise fix fatally flawed startups.
Can you imagine how un-fun that would be?
This has to be the one of the Top Five dirty little secrets of venture capital.
He does re-iterate a point I made on Shantanu’s blog a few weeks back: the best venture parter to work with is one who’s been in the industry for 20 years.