The question if it's really down to probability that only 1 out of 10 investments works out. I'd say there is a big factor in there that they simply make poor b

The question if it's really down to probability that only 1 out of 10 investments works out. I'd say there is a big factor in there that they simply make poor business decisions, like doing whatever your friends are doing, and betting money on people you would like to go play golf with instead of people that maybe make you uncomfortable but are much smarter than you are as a VC, and know a lot more about the problem domain than you do.