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Comment by monero-xmr | Hacker News Reader

To be a partner at a VC firm you used to have to be a successful entrepreneur. Now a degree from Stanford and two years as a PM at a YC company seems to be the bar for getting on the VC track. I have been very underwhelmed with my conversations with many people who decide where to invest hundreds of millions of dollars.

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The more exposure I've gotten to "impressive" organizations and individuals, the more convinced I've become that competence isn't any more common at all as one goes up the chain. Not less common! Some of them really are bright & have a level head! But also not more common.

It's kind of heartening to realize that the world's mostly run by the incompetent—they're really not any brighter than you or me, and blissfully-ignorantly commit obvious errors or behave irrationally all the time. You could do it too! Why not, a bunch of them are idiots. But it's also horrifying.

Whatever "meritocracy" we supposedly have, as far as I can tell, is a total fiction. Some good, capable people rise, but enough bad ones also do that the proportion's not really any better the closer you get to the top.

>> Whatever "meritocracy" we supposedly have, as far as I can tell, is a total fiction.

Worth noting that the term "meritocracy" was invented as satire: https://kottke.org/17/03/the-satirical-origins-of-the-merito...

I mean, in tech it's often a "meritocracy amongst those with privilege." If you ain't in the club, you're not getting in based on "merit."

In American politics, one truly fails UP. Being an honest, decent human being is seen as a negative and probably in part because it is a threat to the rest of the scumbags. But I believe that some highly trained scientists who are at the top of their respective fields are there because they're the best of their breed. Maybe not, but I doubt the good ol boys club is that status quo in all industries.

Steve Jobs said this 40 years ago: https://m.youtube.com/watch?v=kYfNvmF0Bqw

Read also: There's no speed limit (sivers.org), https://news.ycombinator.com/item?id=3761013

> competence isn't any more common at all as one goes up the chain

100% this.

That's why the old saying "everyone puts their pants on one leg at a time" exists. However fancy the image, however impressive the title, the person behind it is no more likely to be exceptional than any other random person.

Don't forget the Patagonia vest and a pair of Allbirds.

I love those quilted vests a little grey at the temples also adds a lot of gravitas

Throw in some long pauses, dropping some quotes from someone everyone claims to have read and haven't and be 5% underweight while having pronounced delts or triceps.

Throw on a pair of Sundar glasses and slip a moleskine notebook and a Montblanc Meisterstuck and you are platinum. Catalyze those synergies across complimented verticals!

Pfft. Lamy Unic

Nice, the notebook would have to be quadrille. The PhD VC angle. You would have to focus on technicals over the pure MBA pastiche.

be 5% underweight while having pronounced delts or triceps.

I don't get that part of the joke. Most VCs are skinny AF or quite chubby, but none of them seem to have any semblance of muscle mass?

It sets the stage that they have a mind over matter level of self control, calorie negative longevity diet, self measure along with wanted to "blow off some steam" with bouldering (a high analytical physical activity).

Ah that's why I didn't get the joke.

Boulderers don't have large triceps or deltoids...to the extant that arms are used in bouldering, it is in pulling activities that develop the back, biceps, and forearms, not the deltoids or triceps.

You only get large delts and tris without developing other muscles by doing excessively long static planks.

You are good!

Do you play ultimate?

Have you considered being a partner in a VC firm?

I shit you not, I often wear a vest that looks very similar to the Patagonia jacket, and I've been confused for being in the venture industry.

ok I'm doing this. Can I please get the details on the whole ensemble? Blue jeans, maybe no shoes, extremely expensive tacky watch? Are we still doing the yellow wrist band?

https://vcstarterkit.com/

> Is this real? Is there a return policy?

> We believe in risk taking. So should you.

I like the attitude.

Reminds me of when my friend and I were leaving this pay-what-you-want pro-capitalism pop-up exhibit in Brussels. At the end, there was a thing asking us to donate. My friend said "Let's leave what a true capitalist would leave" and I didn't know what he meant until I saw him walking out without giving anything.

Patagonia isn't cool anymore because they stopped selling corporate branded vests. It's Cotopaxi now. Also fashion has changed, bright colors and solid shapes are in, Patagonia's understated look is out.

https://www.theinformation.com/articles/silicon-valleys-swag...

> Patagonia isn't cool anymore because they stopped selling corporate branded vests. It's Cotopaxi now. Also fashion has changed, bright colors and solid shapes are in, Patagonia's understated look is out.

Why? Couldn't some 3rd party put desired logos on, even if Patagonia itself wont?

Why take the risk and hard work of building a company when you can get rich risk free (as a vc)

I don't think you can say VCs aren't taking risks. The good ones are hedging their bets by throwing lots of spaghetti at lots of walls, though.

VCs invest other people’s money from funds they raise, thus removing “skin in the game”. The risk they bare may be reputational at best. Hedging bets with others peoples money is not real risk taking.

Excellent point, thank you.

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