[ilrwbwrkhv]

a16z has been wrong about everything. Most VCs have been. The thing to understand is that how the first VCs invested in companies like Apple and Google, people still have an outdated model of this game.

Right now the VC game is closer to a giant ponzi scheme. The whole goal is to sell it to the next fool down the road and if not any then retail investors.

[dzonga]

this is an important realization. most VCs are not smart - they got lucky and are wealthy to try influence things.

[andriesm]

I dunno, when I listen to interviews with Marc Andreessen he sounds insanely smart.