Palihapitiya: Long feedback loops make it easy for VCs to lack integrity
Chamath Palihapitiya · 20VC: Chamath Palihapitiya on Why IPOs and Direct Listings Are Broken, Turning Social Capital Into A Combination of Berkshire Hathaway, Koch Industries and The Red Cross, Why Forecasts Are Worthless, What Creates True Defensibility & Why You Have To Be Pr · Jul 13, 2020 · at 19:35
Chamath Palihapitiya contrasts startup founders, who face constant operational scrutiny, with traditional VC firm partners whose integrity is rarely tested except during money and credit disputes.
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“To be a partner in a venture capital firm, it's very easy, frankly, to lack integrity because there are no points of demarcation, and you only learn about your fellow partners In very sporadic bursts over very, very long periods of time, largely when it comes to money and credit.”
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