"Always look for the hidden agenda." Okay: (1) Get publicity for the VC firm and, thus, more deal flow. We can conclude that they are not getting much deal f

"Always look for the hidden agenda." Okay: (1) Get publicity for the VC firm and, thus, more deal flow. We can conclude that they are not getting much deal flow. (2) Have criteria that look good to the LPs, that is, easy to understand and like nearly all other VCs. Then forget about the 20% and live on the 2%.