Old VC model:
1. Invest billion$ in startup.
2. Profit.
New VC model: 1. Light billion$ on fire. 2. Matt Levine critiques the height and coloration of your flames. 3. There is no step 3.
New VC model: 1. Light billion$ on fire. 2. Matt Levine critiques the height and coloration of your flames. 3. There is no step 3.