Exploiting a Position of Power
Last week there was a meme flying around about "things VCs would never admit to." If you read TheFunded, a decent amount of the posts follow the same theme (although far less than many folks think). While I've always been slightly annoyed by these "traits" of VC, I've never paid it much mind and frankly don't care. First it's a sweeping generalization that is right as often as it's wrong and second I don't think it's unique to VC but rather is a symptom of a relationship between two parties with asymmetrical power/influence. Naturally the "weaker" party complains and the "stronger" party dismisses. I've always thought that entrepreneurs are equally guilty of exploiting asymmetrical relationships (which is one reason I don't sweat this as much as some entrepreneurs do). Well, today I saw a brilliant YouTube video that captures my point. If you're an entrepreneur and you cringe and see a little bit of yourself in this video, remember that the next time you get it back from a VC.
My view on this is to treat people like you would like to be treated and avoid doing business with those who do not. I've learned this rule the hard way but when I stick to it, I have no complaints.