The meeting that showed me the truth about VCs (2017)
techcrunch.com
techcrunch.com
With that in mind, there is a lot of capital available with lower expectations but no access to the US stock market. Here in Argentina any product that is independent from local instability and has 4% returns would be a blockbuster (if in doubt, check the news).
I believe that's inflation-adjusted, whereas the article seems to be ignoring inflation, other than mentioning it once.
> If you add the constraint that you must cash out in a fixed 10 year span, 7% returns are harder to find.
That constraint doesn't actually exist, from the investor's POV. That is, an investor has the choice of investments with or without that constraint. The fact that VCs have it doesn't mean they're not competing against funds aren't constrained.