[Barrin92]

I think it's fair to give (a lot of) credit for the Netscape work, but people like Andreessen at some point have so much money and clout that in particular in the VC field they can literally make reality as they wish and turn everything into a successful exit or just absorb an almost infinite amount of failures that nobody else would get away with.

I put a lot more weight on what people do when they had no name than what they did in this industry with its personality cults once they got the ball rolling.

[robocat]

Only 5% of modern VC funds make enough to cover investor risk: https://techcrunch.com/2017/06/01/the-meeting-that-showed-me... 50% don’t even make their money back (figure is much worse when you adjust for overheads and depreciation).

Assuming that VCs are successful just because they have money is selection bias, because you mostly only hear about the successful VC funds.

Aside: VCs partners themselves can make money even if their fund doesn’t due to the 2% management fees of a normal 2+20 fund structure.

[taurath]

OTOH he gets to see what ultimately is succeeding or not, but that comes with the caveat that the metric by which what is "succeeding" is what ultimately gets more money, which he has a ton of influence over.