On a recent a16z podcast, Andreessen said:
“It's possible that [being a VC] is quite literally timeless, and when the AIs are doing everything else, that may be one of the last remaining fields that people are still doing."
Interestingly, his justification is not that VCs are measurably good at what they do, but rather that they appear to be so bad at what they do:
“Every great venture capitalist in the last 70 years has missed most of the great companies of his generation... if it was a science, you could eventually dial it in and have somebody who gets 8 out of 10 [right]. There's an intangibility to it, there's a taste aspect, the human relationship aspect, the psychology — by the way a lot of it is psychological analysis."
The podcast in question: https://youtu.be/qpBDB2NjaWY
(Personally, I’m not quite sure he actually believes this - but watching him is a certain kind of masterclass in using spicy takes to generate publicity / awareness / buzz. And by talking about him I’m participating in his clever scheme.)