[_dps]

FWIW Chuck, I agree that the phrase "VC-istan" rubs me the wrong way in Michael's otherwise quite interesting and compelling writing. For me there are two reasons, one bad and one not-terrible (note I don't have any "strong" reasons... as Chuck says this is merely something that irks me):

1) The bad reason: while I'm a startup founder who has deliberately eschewed VC money for many reasons that overlap Michael's analysis, I have many friends who thought VC was the right choice for them. These people are not stupid, dinosaurs, corrupt, or anything else that warrants a pejorative. They made a rational cost-benefit decision that they believed to be best for them. It irks me to have a significant group of people whom I respect categorized in this "feudal" taxonomy, as you put it.

2) The not-terrible reason: if you follow Michael's writing you find that he has had one or more bad experiences with startups in the past, and he has never mentioned a good one. If you are someone who believes that good startups do exist, then it is very easy for your monkey-brain to short-circuit to "sour grapes" whenever he discusses the VC ecosystem, even though I mostly don't believe that to be the case. I think it detracts from the strength of his writing to give lazy readers an easily-avoided prompt that might lead them to inaccurate conclusions. If one merely wants a shorthand for "the VC-ecosystem", I think VC-land conveys the same grouping of concepts without provoking a potentially suspicious reaction. I know that I have a very minor ego vs id battle every time I read "VC-istan" in his essays, and I suspected others did as well.

[michaelochurch]

My dislike for "VC-istan" isn't uniform. There are good VCs and good VC-funded companies out there. And as you said, pragmatic concerns (cost/benefit) are more important than hollow principled stands that make no sense in the context of individual variation. If you can get a decent VC and it makes sense for your business then, by all means, work with him.

If you are someone who believes that good startups do exist, then it is very easy for your monkey-brain to short-circuit to "sour grapes" whenever he discusses the VC ecosystem, even though I mostly don't believe that to be the case.

I'm a hard-core cynic about the VC scene and even I will agree that plenty of good startups exist. :)