Why can a scam company raise $40 Million Series C + $76 Million Series B?
Most VCs delegate diligence to 22 year olds that don't really try the site or startup of the startup they invest in.<p>This should not be surprising.<p>VCs deliver risk-adjusted returns way below the S&P 500Most<p><a href="http://www.avc.com/a_vc/2013/02/venture-capital-returns.html" rel="nofollow">http://www.avc.com/a_vc/2013/02/venture-capital-returns.html</a><p><a href="http://www.kauffman.org/newsroom/institutional-limited-partners-must-accept-blame-for-poor-long-term-returns-from-venture-capital.aspx" rel="nofollow">http://www.kauffman.org/newsroom/institutional-limited-partn...</a><p>And VC's subtract value from the startups they invest in.<p><a href="http://techcrunch.com/2013/09/11/vinod-khosla/" rel="nofollow">http://techcrunch.com/2013/09/11/vinod-khosla/</a>