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Lot's bitching and moaning in this article about 2/20, but no mention of PE and VC who also take 2/20. PE returns lately have been good, but VC returns on average over the long term have been underwhelming.

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you should see what small time real estate promoters out west charge for fees.

> VC returns on average over the long term have been underwhelming.

Genuine question: why do VC's continue to exist?

I think the best VCs have done amazingly

The best asset manager in any sector has done amazingly. That being said, it may be just as hard or harder to select an above average investor as it to select an above average investment.

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