Comment by nipponese
8 hours ago
this is compounded by young, newly rich tech workers (no kids, no mortgage, maybe not even a car) experimenting with being a VC because they've recently reached accredited investor status.
and it's not just ZIRP. every recent IPO or liquidity event creates literally 500 more of these guys.
> maybe not even a car
Hold up — one can be mature without any of those things, but cars are especially optional.
maturity has nothing to do with it. these are recurring expense liabilities with very very distant return horizon.
Depending on which city you live, my feeling is owning a car is a lot less optional once you have kids, at least in their earlier years.
They say Silicon Valley was more of a documentary than a comedy, and now we have one more way life imitates art: A growing army of Erlich Bachmann's.
Jian-Yang's
Big Heads
[dead]
Those would be angels, not VCs. VCs manage outside money.
That's a really good distinction. I realize this is a little snide, but I imagine when they look in the mirror they still see themselves as Marc Andreessen.