[rhizome]

Maybe, but that circular logic doesn't help establish legitimacy. And if we can agree on that, then where does the investor industry's legitimacy lie? "We have the money, by various mechanisms, and everything else is a fairy tale?"

[AndrewKemendo]

What is legitimacy? Sounds itself like a fairy tale.

[rhizome]

No, the concept of a "legitimate investor" is not a fairy tale. Unless that's what you're saying, that the entire VC industry is illegitimate, that it exists outside the world of dependable knowledge? Why would LPs give GPs money if that was the case? It seems to go against all financial sense.