Understanding VCs
From my experience I've found there are 3 types of VCs:<p>1. The Product VC<p>These are people who built a great product(s) and exited and became VCs. They know the roller coaster of making a product successful. They can provide great advice. They can identify with the struggle and provide support. They are informed about the industry because they are inherently curious people and like to know about products. They also know what kind of person will most probably succeed in navigating the turbulent waters of a start up and bring a great product to market. These are the VCs to listen to.<p>2. The "I won a lottery VC"
These guys made a product that for some reason (right timing, right connections, right team, product/market fit) became hugely successful quickly and they exited. They had an idea for solving a single pain point and it was the right pain point to solve. With their new found wealth they behave like @johnwheeler's Shoe Button prince. Suddenly they feel like they can pontificate on any industry. Unless your product is in the same industry that the VC exited from take what these guys say with a grain of salt.<p>3. The Herd VC<p>These guys are the spray and pray variety or follow the herd variety. Both these strategies will lead them to seem like they have the Midas touch because a few of their investments will hit the blockbuster league. If you ask them what made them invest in the blockbuster they will spew the generic things. These are the guys whose money you take and ignore their advice because they really don't know what they are talking about. Their well of knowledge is shallow and wide so in your industry it won't be deep and narrow.