They are for sure risk adverse and they for sure act like sheep. Most VCs would agree with that in private, if not about themselves, about the space in general

They are for sure risk adverse and they for sure act like sheep. Most VCs would agree with that in private, if not about themselves, about the space in general. They all like betting on hot startups in hot spaces, there's a lot of big winners and big losers in that group. Almost no one wants to bet on a not hot space and almost no one wants to be the first investor in a company. All due diligence goes out the window when a company is red hot and you aren't expected to do any because look at all the other big names that presumably did. Almost no one wanted to bet on Coinbase in 2012 but everyone wanted to bet on all of these derivative crypto projects after Coinbase and bitcoin were killing it.