That's true... I never worked in VC but one of my mentors has. From what I could gather, they really have some talented people who can spot some signs that a business is going to succeed, but there is also a lot of politics involved and also statistics. The big ones can fund so many business that even if 90% of them fail (which happens a lot), the 10% that succeed will more than make up for the money that was lost.

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