Bitcoin Exposes Monetary Aristocrats Today

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VCs have great reputations.

They are thoughtful visionaries that bring disruptive technologies to the masses through their capital. They are wise oracles that guide inexperienced startups to glory. They are hyper-competent winners that bring immeasurable value to their investors.

This couldn’t be further from reality.

VCs act like entitled aristocrats. They expect you to kiss their rings, defer to them, and treat them as demigods of business. What’s worse, they believe their own hype.

The first venture capitalist I ever met was Bob. I was 23, working at a startup founded by my high school friend. We were sitting around his disorganized kitchen table in a cruddy apartment-slash-office in Cambridge, Massachusetts. Bob wore an expensive, custom-tailored, yellow suit, shiny alligator boots, and an honest-to-goodness man purse. His presence made as much sense as Vitalik Buterin at a bodybuilding competition.