Do VCs really add value?  Founders say sometimes
I think it changes a whole lot based on <i>who</i> you work with.<p>In my experience it seems like 75% of VCs are neutral. They try to be helpful, aren’t really, but don’t get in the way, and their cash is green. They can email me two times a day if they want, it won’t help me any more (and will be annoying).<p>10% are actively harmful. Either they have really bad advice, are a distraction, or try to lead your company down bad paths.<p>15% are incredibly helpful (maybe the 10% and the 15% should be switched), and you should do whatever it takes to work with them. They can think through problems instantly, see 15 steps ahead, understand where you are and what you should be focusing on, know everyone, and actually put in the work. I’ve been <i>shocked</i> at how helpful some VCs can be in eliminating most of your biggest problems. It’s just rare that happens.<p>That’s why I’m surprised to see how little “track record” was valued. With few exceptions that’s my #1 consideration when deciding who to take money from, or perhaps #2 begind “reputation.”