20VC: Why VC is a Ponzi Scheme Today | Why Most VCs are Bankers | Why Big VCs Ruin Startups | Why Incentives in VC are Broken | Why American Dynamism is a Tool for VCs to Raise Money with Nick Chirls, Asylum Ventures

1274.269 - 1297.075 Harry Stebbings

One of the most irrational is not allocating based on performance, but allocating based on not getting fired. You mentioned the big banks before. The big banks in venture, we all know, are going to do pretty poor numbers. But actually, they're catering to an LP class that's scared of getting fired or is happy with lower returns. Is that just a continuation of their funding supply? That's just...