{"id":78,"date":"2008-01-11T08:34:53","date_gmt":"2008-01-11T12:34:53","guid":{"rendered":"http:\/\/blog.payne.org\/2008\/01\/11\/hey-buddy-want-to-be-a-vc\/"},"modified":"2008-01-11T08:34:53","modified_gmt":"2008-01-11T12:34:53","slug":"hey-buddy-want-to-be-a-vc","status":"publish","type":"post","link":"https:\/\/payne.org\/blog\/hey-buddy-want-to-be-a-vc\/","title":{"rendered":"&#8220;Hey buddy, want to be a VC?&#8221;"},"content":{"rendered":"<p>I have a number of entrepreneur friends that have become VCs. We&#8217;re all optimizing different factors in our own lives and careers, but I just don&#8217;t get it.<\/p>\n<p>In case anyone&#8217;s not paying attention, the venture capital business is not in great shape right now.\u00a0 Returns (relative to risk and other asset classes) aren&#8217;t that good.\u00a0 There are too many funds, VCs, and dollars chasing too few deals.\u00a0 Good projects are highly competitive, with VCs spending a lot of time trying to sell some differentiation and paying too much on bid-up deals.\u00a0 Large funds are struggling with how to participate in small-capital projects.<\/p>\n<p>I have a lot of VC friends:\u00a0 they&#8217;re all working harder than they&#8217;ve ever worked before, and are likely making less money than they&#8217;ve ever made.<\/p>\n<p>I think part of the attraction is based on out-dated romantic notions.\u00a0 Back in the 90s, VC was THE career-capping move for an entrepreneur.\u00a0 &#8220;Venture capital&#8221; would be the last job you ever had, and you were making a lot of money and not working very hard.\u00a0 (In 1999, it felt like the VC weekend started at 4pm on Thursday.)<\/p>\n<p>(If I ever join the dark side, feel free to remind me of this note.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have a number of entrepreneur friends that have become VCs. We&#8217;re all optimizing different factors in our own lives and careers, but I just don&#8217;t get it. In case anyone&#8217;s not paying attention, the venture capital business is not &hellip; <a href=\"https:\/\/payne.org\/blog\/hey-buddy-want-to-be-a-vc\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-78","post","type-post","status-publish","format-standard","hentry","category-entrepreneurship"],"_links":{"self":[{"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/posts\/78","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/comments?post=78"}],"version-history":[{"count":0,"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/posts\/78\/revisions"}],"wp:attachment":[{"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/media?parent=78"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/categories?post=78"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/payne.org\/blog\/wp-json\/wp\/v2\/tags?post=78"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}