It's not just VCs. In a big corporation, the number of reports in your org is proxy to your clout. The more people you manage the more prestige you have. My wif

It's not just VCs. In a big corporation, the number of reports in your org is proxy to your clout. The more people you manage the more prestige you have. My wife likes to say "Head count is currency". It can absolutely lead to bloat because leaders are now incentivized to have more employees instead of producing more value.