You have a good point in the "advice" for personal benefit angle, but don't mistake the goals of a VC firm for their point (i.e. their raison d'etre). The goal

You have a good point in the "advice" for personal benefit angle, but don't mistake the goals of a VC firm for their point (i.e. their raison d'etre). The goal of a VC firm may be to generate a profit, but the reason they exist is to implement part of the the resource-allocation function of capitalism. If they are failing to do a good job at this, even if they turn a profit doing so, then they are an unsuccessful firm (at least, in a broader sense).