The VC industry is like Hollywood: both smart purveyors of a popular, highly value added service to begin with, both driven by nepotism and inertia via far more scope for capture than your average line of work, and both with a cost structure mostly about the lifestyle of the executive class.

when it’s just starting out in something, you get instant classics.

when it’s out of ideas but still has the levers of access tilted all the way to “got mine bitches”, you get the late MCU, Uber for X, and OpenAI Larry Summers Edition.