> From the VC marketing bullhshit they assume that the "only" way to create a company is "to create the next billion dollar company"

We don't (or at least we shouldn't).

The issue is as a VC you have LPs who are very demanding about returns. VC represents a minority of their total capital outlay, but they put money in VC in order to get outsized returns.

If I'm the Ontario Provincial Pension and I gave a VC US$200M, I expect to make way more money from the VC fund than I would have investing in the stock market, or bonds, or gold, or to a PE/IB/Hedge Fund.

VC is just another financial instrument that is a part of diversified portfolios.

If I had to use stereotypes, if PEs are alcoholic coke heads, VCs are kombucha swilling stoners and trippers.