I don't mean that they're building commodity products, although that's also true. I mean that the VCs, with this Disney-fied entrepreneurship culture they've created, have managed to commoditize business formation itself. It's built out of commodity ideas, commodity people, commodity founders. It provides disappointing but reliably mediocre returns to investors, and it's great for the VC's career.
For people who got into the game because they actually wanted to build technology, however, it really sucks.
I don't mean that they're building commodity products, although that's also true. I mean that the VCs, with this Disney-fied entrepreneurship culture they've created, have managed to commoditize business formation itself. It's built out of commodity ideas, commodity people, commodity founders. It provides disappointing but reliably mediocre returns to investors, and it's great for the VC's career.
For people who got into the game because they actually wanted to build technology, however, it really sucks.