"which means that one VC's opinion influences the multitude." But if the idea is to make money and spread the risk among many "bets" that makes plenty of sense

"which means that one VC's opinion influences the multitude." But if the idea is to make money and spread the risk among many "bets" that makes plenty of sense. "If there were more independence among VC decisions, we'd see an order of magnitude more good startups getting funded." I think you are overestimating the influence of any single person. PG trying to get USV to invest in Airbnb comes to mind. Taking an investment that others have decided is good and deciding if you agree is much simpler than doing the same without that social proof. Added: and filter.