David Cowan, Bessemer Venture Partners, writes infreqently at
http://whohastimeforthis.blogspot.com/ , but it's always a good read and in a voice consistent with Bessemer maintaining an anti-portfolio.
it's very strange how risk-averse they seem, don't they (well, their customers) get tax breaks for taking risks? Is that even legal to invest in "Dick’s Sporting Goods" with detaxed money?
A VC's job is not to take every risk they can find, it's to find the risks worth taking. I see plenty of risks in the more recent years here: