Psychology of a VC and how to take advantage of it
venturebeat.com
venturebeat.com
The writer is in the UK. Silicon Valley VCs don't say that. Startup entrepreneurs do, but not VCs. VCs expect about 1 in 10 to be a big success and pay for all the other losers.
https://news.ycombinator.com/item?id=8640126
and
https://news.ycombinator.com/item?id=8669232
can be used to respond to this OP.
Mostly the posts are for entrepreneurs, but the second one tells VCs how to start getting decent ROI values.