> The thing is, unless you are one of those unicorns, it's not necessarily a smart business move for you because you—unlike the VC's—are betting on yourself and not the aggregate performance of the portfolio.
To play Devil's advocate, which is the better bet for society? Maybe betting on the rare-but-insanely-successful ones generates more value for everyone in the long run.
That's a fair point... but I guess the primary point I was making was that it's important for the founders themselves to understand this dynamic. Their interests and the investors' interests are not perfectly aligned.