Matt MacInnis: belief

Transcript context

…VC propaganda. Everybody's acting in accordance with their incentives in Silicon Valley, the executives, the founders, the venture ... Everybody's, of course, behaving in accordance with their incentives. And the venture capitalists have very strong enduring incentives that have shaped the dynamic of how Silicon Valley works. There's nothing wrong with that. It's just really, really important to point them out and scream at them for the 25-year-old entrepreneur who has no fucking clue how this stuff works. Trust me, the 45-year-old entrepreneur or the 50-year-old venture capitalist who've been in the game for a while, they get it. They've observed it. They know what it's like. The system is there to take advantage of the people who don't, or at least it is the easiest prey for the incentive structures, not for venture capitalists as individual people who are beautiful and all of them are just really wonderful people. It's just that the incentive structures lead to some real harm, I think, in certain cases. And the thing I find is when you do quit, VCs ... I'm always just like, "Hey, let me know when you're starting your next thing. I'm excited to invest." They're rarely, unless they're not a great VC, rarely are they just pissed at you for how could you possibly not make this work [inaudible 00:47:52].…

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