I've been reading about VC and all it entails for years now, and it always leaves me with a sketchy feeling. Pouring so much time and effort into chasing capital, and then giving up so much ownership and being on the hook for big returns once it's finally attained... seems like a sure way to suck the soul out of any business.
Not saying VC doesn't have a place in the world, but I get the sense that a lot of founders pursue VC just because that's what startups are "supposed" to do.
The nature of VC is to build portfolios. The success and failures of individual companies within that portfolio matter very little- what matters a lot more is whether the lessons learned and knowledge/IP generated can spill over to other portfolio companies to eventually produce winner(s) somewhere.
The success of the portfolio is what matters to the firm, and the returns are what matter to the LPs.
It is what it is, so entrepreneurs should use it for what it is. The hype over the past decade has been ridiculous.
Not saying VC doesn't have a place in the world, but I get the sense that a lot of founders pursue VC just because that's what startups are "supposed" to do.