Being a *good* VC is one of the hardest jobs right now. 

The market has evolved in a way that's perfectly competitive (money is money). High beta, asymmetric deals are hard to come by, entrepreneurs need less money to build their businesses, and there's more money than ever chasing deals that could return the fund.

Built to Build. Angel investor. Previously at Eng and Ventures Coinbase and coherent.xyz

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

It's because they haven't been shown another way yet. So far the only proven "return the fund" deals have been tokens. Monkey see monkey do. Also means there's asymmetry in deals that don't have tokens, less competition, but much much higher risk.

What I find troubling is that many of the "top tier" crypto VCs are still stuck on the thesis that tokens are a required component of the deal. You can have a company with insane potential, engineering results that are groundbreaking, great design partners and early clientele, even revenue!, but no token, no funding.

Onchain strategist, designer, and artist studying the meta. Founder /metaliminal. Head Scout @launch. www.artsos.app/usersteen-eth

As a founder, the most value add I got from VCs 1) money so I can hire people and pay for servers and 2) coaching (for VCs with experience founding companies), somewhat distant second value add. 

The rest just seems like fluff to me. (this is a 2nd time founder perspective)

As a nonfinance guy I think brand (ops, comms, culture, product) is the next level of vc.

Both in terms of the org itself but of portfolio investments and how they're evaluated. Imo pmf can be made less elusive with a more creative approach