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Seeing VCs like a16z shift so quickly from crypto to AI has made me doubt how smart these guys really are. When I started my career I thought, wrongly, that VCs

Seeing VCs like a16z shift so quickly from crypto to AI has made me doubt how smart these guys really are. When I started my career I thought, wrongly, that VCs were the real smart guys in the room when startups were founded. They were already rich, they provided great advice to early companies, they could see the future and knew what direction tech was going, they were essential. As I've progressed in my career my view of them has changed dramatically. They're the money men who in many cases got lucky a few times. Sometimes really just once. Now I don't mean to completely diminish their role. I've pretty much only worked at VC funded startups in my career and so imo there's no underselling the importance of having some cash in the bank so you can work. But the people providing that cash are not visionaries. They are simple investors chasing returns. Whatever they think is the current thing that will generate returns that's what they want to talk about. Whether it's social media, new media, crypto currencies, or now AI they're all just chasing returns and trying to hype the space their portfolio companies are in. It doesn't really feel so visionary or special after all.

MaxHoppersGhost 3y ago
Yes, the tech world puts these folks on pedestals but they are really just trend followers. The club is small and unless you went to an elite high school and then an elite university you’re probably not getting in. But the difference between these VCs and the average technologist is just a lot of polish and elite backgrounds.
steveBK123 3y ago
VCs main alpha is that by network/relationship, physical location, cultural convention, and investment mandate.. they have access to pre-IPO tech companies that most regular Joes have to wait until they IPO to invest in (years later, at greatly inflated prices by then).
nanreh 3y ago
I get that feeling hearing him debate. His recent interview with Sam Harris made him look rather foolish. He may be smart but he's not great at getting that across to an audience.
JohnFen 3y ago
I've dealt with many different types of people, in many different professions, from the bottom of ladder to the top. One thing that's very obvious is that you can't really predict how smart a person is based on their level of business success, what their profession is, how wealthy or poor they are, etc. What you can predict is what their skillset is, but being "smart" and being highly skilled are two different things.

MaxHoppersGhost 3y ago

Yes, the tech world puts these folks on pedestals but they are really just trend followers. The club is small and unless you went to an elite high school and then an elite university you’re probably not getting in. But the difference between these VCs and the average technologist is just a lot of polish and elite backgrounds.

steveBK123 3y ago

VCs main alpha is that by network/relationship, physical location, cultural convention, and investment mandate.. they have access to pre-IPO tech companies that most regular Joes have to wait until they IPO to invest in (years later, at greatly inflated prices by then).

nanreh 3y ago

I get that feeling hearing him debate. His recent interview with Sam Harris made him look rather foolish. He may be smart but he's not great at getting that across to an audience.

JohnFen 3y ago

I've dealt with many different types of people, in many different professions, from the bottom of ladder to the top. One thing that's very obvious is that you can't really predict how smart a person is based on their level of business success, what their profession is, how wealthy or poor they are, etc. What you can predict is what their skillset is, but being "smart" and being highly skilled are two different things.