I think you're flirting with a no-true-scotsman argument. VC can mean everything from "seed fund" to "private equity" to "family funds". Giant investments at la

I think you're flirting with a no-true-scotsman argument. VC can mean everything from "seed fund" to "private equity" to "family funds". Giant investments at later stages are frequently from institutions that don't do early stage investments. And Tim Draper, at least, invested in Theranos. Theranos isn't as much an indictment of Silicon Valley as news articles say, but it's still a bad look.