Venture capital is going to murder Medium
It&#x27;s a pleasure to see DHH pat himself on the back each time his stopped clock overlaps with the hour. He shows the palpable schadenfreude of a man, sitting on the sidelines, who won&#x27;t shut up about the players in the game. But I notice another flaw to his prose aside from the self-congratulations.<p>Many people who stumble into a certain amount of fame and adulation, like him, get sloppy when they write. They start to repeat themselves. They don&#x27;t offer evidence to back up their claims. They don&#x27;t dig deeper than the insight they offered in the last five columns. In short, they don&#x27;t do the work any more. DHH&#x27;s post show all those symptoms. He lacks a good editor, and probably thinks he doesn&#x27;t need one.<p>It might be interesting, for those who want to do the work, to consider why VCs invested more than $120M in Ev. One answer is that VCs tend to invest in strong founding teams, and he is about as strong as a founding team gets. Personally, I would never invest in a media company, but abstracting away from the sector, Ev looks like a very good bet.<p>Secondly, investments fail all the time. Medium might be one of those. Our understanding of the world doesn&#x27;t change much if that&#x27;s the case. None of this is really news.