I've done direct investments in companies and equity crowdfunding via sites like Wefunder. I don't think what you are hearing is true. People (and funds) chase

I've done direct investments in companies and equity crowdfunding via sites like Wefunder. I don't think what you are hearing is true. People (and funds) chase returns and will invest where they can get them. In the long run, say 5 to 10 yrs, the VCs role will be diminished at least somewhat. Look at Gnosis, who just raised 12MM at a valuation of 300MM, without traditional VC.