I assume you meant 1000x not 1000% (since the latter would only be 10x. Is there any evidence that even as many as 1/1000 startups provide a 1000x return to VC

I assume you meant 1000x not 1000% (since the latter would only be 10x. Is there any evidence that even as many as 1/1000 startups provide a 1000x return to VCs, considering that the return is only a fraction of a total exit? Even then, assuming all investments were equal, that's a very meager return of 1099 on 1000. For a 10-year fund, that wouldn't even beat inflation, let alone compete with something like Treasuries. An article that delves into more details (although there's some glossing-over, still): https://news.ycombinator.com/item?id=17874278 https://news.ycombinator.com/item?id=17874278 https://techcrunch.com/2017/06/01/the-meeting-that-showed-me-the-truth-about-vcs/ https://techcrunch.com/2017/06/01/the-meeting-that-showed-me...