Drama 2.0 on Venture Capitalists

[from Ross Levinsohn: From Big Rounds to Down Rounds : The Drama 2.0 Show]

Of course, the semi-initiated know that only a handful of venture capital firms have proven an ability to consistently pick big winners and that most VCs are little more than McKinsey types who know everything about building a business in theory but couldn’t run a local pizza joint if you gave them a manual. They rely primarily on the Greater Fool Theory to make money and they only do so when there’s an “uptrend.” In other words, they’re no more intelligent or talented than an orangutan.