Interesting viewpoint from Bischke: &quot;startups doing something genuinely different just because there is no one paying them just to be another Uber for teddy bears&quot;.<p>This betrays a lack of trust that VCs are able to judge the value of a company. That they really only invest in companies because others invest in them. Or that they invest in something they are very familiar with and are unable to recognize technological disruption.<p>I&#x27;ve a startup so I&#x27;ve never been on the other side of the table, but I can&#x27;t imagine that there is not also a survival of the fittest on the VC side. Perhaps being very early in a company doesn&#x27;t pay off in an extraordinary fashion? How would the system not be autocorrecting for VC failure?