1. 15:33 4th Sep 2010

    comments:

    […] the median VC loses money. That’s one of the most surprising things I’ve learned about VC while working on Y Combinator. Only a fraction of VCs even have positive returns. The rest exist to satisfy demand among fund managers for venture capital as an asset class.
    — Paul Graham, in How To Be An Angel Investor (footnote)
     
     
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