Marginal decisions are still probablistic. A doctor with that success rate is terrible because value of success is lower than the cost of failure. A VC with lo

Marginal decisions are still probablistic. A doctor with that success rate is terrible because value of success is lower than the cost of failure. A VC with low hit rate is good when value of success is 100x the cost of failure. VCs are going to have to choose how liberal/risky to be in investing. They could maybe choose to invest less and we'd not have Juicero but we'd also not have many other successful companies. When you investing in many companies some are going to be bad. Extrapolating Juicero to all of SV is like critisizing a hundred billion dollar infrastructure bill because of one fairly useless hundred million dollar project in it.