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	<title>Betabeat &#187; What&#8217;s the Worst Part of Being a VC? &#8216;The High Asshole Factor,&#8217; Apparently</title>
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		<title>Betabeat &#187; What&#8217;s the Worst Part of Being a VC? &#8216;The High Asshole Factor,&#8217; Apparently</title>
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		<title>What&#8217;s the Worst Part of Being a VC? &#8216;The High Asshole Factor,&#8217; Apparently</title>

		<comments>http://betabeat.com/2012/06/whats-the-worst-part-of-being-a-vc-the-high-asshole-factor-apparently/#comments</comments>
		<pubDate>Tue, 05 Jun 2012 16:53:54 -0400</pubDate>
					<link>http://betabeat.com/2012/06/whats-the-worst-part-of-being-a-vc-the-high-asshole-factor-apparently/</link>
			<dc:creator>Jessica Roy</dc:creator>
				
		<guid isPermaLink="false">http://betabeat.com/?p=48696</guid>
		<description><![CDATA[<p><div id="attachment_48707" class="wp-caption alignleft" style="width: 310px"><a href="http://rso.cornell.edu/cvc/images/events/venture_capitalist.jpg"><img class="size-medium wp-image-48707" title="venture_capitalist" src="http://nyobetabeat.files.wordpress.com/2012/06/venture_capitalist.jpeg?w=300" alt="" width="300" height="193" /></a><p class="wp-caption-text">(rso.cornell.edu)</p></div></p>
<p>An interesting question showed up in our <a href="http://www.quora.com/">Quora</a> digest email this afternoon. "What is the worst part of being a VC?" one user <a href="http://www.quora.com/Venture-Capital/What-is-the-worst-part-of-being-a-VC">wondered</a>. No, "<a href="http://betabeat.com/2012/05/female-partners-venture-capital-firms-fem-kleiner-perkins/">sexism</a>" wasn't one of the answers, but apparently there are quite a few grievances for the partners on Sand Hill Road. The main complaint? Turns out there sure are a lot of assholes in the VC business.</p>
<p>An anonymous poster who claims to be "a VC general partner for nearly 10 years at a large brand name fund" posted the following missive:<!--more--><strong></strong></p>
<p><strong>But if forced to pick - the worst parts of the job are:</strong></p>
<blockquote><p><strong>1. Dealing with your partners</strong>. At a large fund, there are lots of partners. And what it takes to become a partner at a big fund and stay there for years is often a high asshole factor, ability and desire to deal with firm politics and internal jockeying for power.</p>
<p>Don't get me wrong. There are some great great partners.  But I think 2/3rds of the people in the GP ranks at big firms have massive egos.</p></blockquote>
<p>He added, "As one LP put it 'VCs have more ego per dollar of return than any asset class we know of.'" Dude's got jokes!</p>
<p>The poster continues to elaborate on the ways this assholery manifests itself, including being a partner in name but not actually have control, and "crazy backroom politics," where VCs agree, "'You vote for my deal at a Monday meeting and I will vote for yours.'"</p>
<p>The answer received 23 comments, almost all of them gushing in their approval of the poster's honesty. Roger Ehrenberg, a managing partner at IA Ventures, lauded it as "a truly brilliant and candid response."</p>
<p>We can't disagree. In fact, all of the answers to the thread provide some compelling insights into the walled garden of venture capitalism.</p>
<p>Ramy Adeeb, a principal at Khosla Ventures, was more blunt about the drawbacks: "Wasting your life cheering on the sidelines instead of making things happen." Do we detect a hint of bitterness, good sir?</p>
<p>Other cons mentioned:</p>
<ul>
<li>The fact that VC is an inherently lonely business.</li>
<li>Having to say "no" all the time.</li>
<li>Dealing with the failure of a company you invested in and really believed in.</li>
</ul>
<p>In the end, we're more partial to VC Mark Suster's response: "You'd have to be a pretty big baby to complain about being a VC." It does seem like a pretty cushy gig, at least for <a href="http://betabeat.com/2012/05/female-partners-venture-capital-firms-fem-kleiner-perkins/">dudes</a>.</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_48707" class="wp-caption alignleft" style="width: 310px"><a href="http://rso.cornell.edu/cvc/images/events/venture_capitalist.jpg"><img class="size-medium wp-image-48707" title="venture_capitalist" src="http://nyobetabeat.files.wordpress.com/2012/06/venture_capitalist.jpeg?w=300" alt="" width="300" height="193" /></a><p class="wp-caption-text">(rso.cornell.edu)</p></div></p>
<p>An interesting question showed up in our <a href="http://www.quora.com/">Quora</a> digest email this afternoon. "What is the worst part of being a VC?" one user <a href="http://www.quora.com/Venture-Capital/What-is-the-worst-part-of-being-a-VC">wondered</a>. No, "<a href="http://betabeat.com/2012/05/female-partners-venture-capital-firms-fem-kleiner-perkins/">sexism</a>" wasn't one of the answers, but apparently there are quite a few grievances for the partners on Sand Hill Road. The main complaint? Turns out there sure are a lot of assholes in the VC business.</p>
<p>An anonymous poster who claims to be "a VC general partner for nearly 10 years at a large brand name fund" posted the following missive:<!--more--><strong></strong></p>
<p><strong>But if forced to pick - the worst parts of the job are:</strong></p>
<blockquote><p><strong>1. Dealing with your partners</strong>. At a large fund, there are lots of partners. And what it takes to become a partner at a big fund and stay there for years is often a high asshole factor, ability and desire to deal with firm politics and internal jockeying for power.</p>
<p>Don't get me wrong. There are some great great partners.  But I think 2/3rds of the people in the GP ranks at big firms have massive egos.</p></blockquote>
<p>He added, "As one LP put it 'VCs have more ego per dollar of return than any asset class we know of.'" Dude's got jokes!</p>
<p>The poster continues to elaborate on the ways this assholery manifests itself, including being a partner in name but not actually have control, and "crazy backroom politics," where VCs agree, "'You vote for my deal at a Monday meeting and I will vote for yours.'"</p>
<p>The answer received 23 comments, almost all of them gushing in their approval of the poster's honesty. Roger Ehrenberg, a managing partner at IA Ventures, lauded it as "a truly brilliant and candid response."</p>
<p>We can't disagree. In fact, all of the answers to the thread provide some compelling insights into the walled garden of venture capitalism.</p>
<p>Ramy Adeeb, a principal at Khosla Ventures, was more blunt about the drawbacks: "Wasting your life cheering on the sidelines instead of making things happen." Do we detect a hint of bitterness, good sir?</p>
<p>Other cons mentioned:</p>
<ul>
<li>The fact that VC is an inherently lonely business.</li>
<li>Having to say "no" all the time.</li>
<li>Dealing with the failure of a company you invested in and really believed in.</li>
</ul>
<p>In the end, we're more partial to VC Mark Suster's response: "You'd have to be a pretty big baby to complain about being a VC." It does seem like a pretty cushy gig, at least for <a href="http://betabeat.com/2012/05/female-partners-venture-capital-firms-fem-kleiner-perkins/">dudes</a>.</p>
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