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Sadly it is not unique to VC. Many in-house products of large companies follow exact same story: sunk cost fallacy, investing in expectation management instead of the product itself, risky and expensive bets dressed as 'MVPs', riding on perpetual promises etc.

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Yeah because developers never wrote a line in POC which made it to prod ;)

Agreed, I have no experience with VC anything, but I was still nodding along the whole time as I was reading.

same. substitute VC with upper management and I (corporate dev through and through) became more queasy as I read. product and strategic mismanagement is the real deal regardless of the source of capital

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