After working as an analyst for one of these Dumb VCs, this is the first piece I have written that summarizes everything I feel about them adequately. Especially the last snarky remark about the 94% of VCs that read the article.
I genuinely feel like there is an incredible market out there that is waiting to be tapped: No Bullshit VC's. Give entrepreneurs a commitment: Once you get to the stage where they want to meet with you, they meet with you once, have an agreed upon time period for research, and at the end of the time period, they give you a term sheet or a refusal. Extra points if they give straight-forward valuations without the salesmanship bullshit of trying to quantify intangibles like the value of their advice or connections. And extra extra points if they avoid meddling.
One thing I noticed about some of the major successes in the good old days (the '80s for me) is that they had a "No Bullshit" early investment, one where a VC took a good look at the company and without wasting time signed a check. Sun I think enjoyed one of these....
I genuinely feel like there is an incredible market out there that is waiting to be tapped: No Bullshit VC's. Give entrepreneurs a commitment: Once you get to the stage where they want to meet with you, they meet with you once, have an agreed upon time period for research, and at the end of the time period, they give you a term sheet or a refusal. Extra points if they give straight-forward valuations without the salesmanship bullshit of trying to quantify intangibles like the value of their advice or connections. And extra extra points if they avoid meddling.