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.This should not be surprising.VCs deliver risk-adjusted returns way below the S&P 500Mosthttp://www.avc.com/a_vc/2013/02/venture-capital-returns.htmlhttp://www.kauffman.org/newsroom/institutional-limited-partn...And VC's subtract value from the startups they invest in.http://techcrunch.com/2013/09/11/vinod-khosla/