Paul Graham adds to the dogpile-on-Venture Capital. Add up all the evidence of [VCs]' behavior, and the resulting personality is not attractive. In fact, it's the classic villain: alternately cowardly, greedy, sneaky, and overbearing. I used to take it for granted that [VCs] were like this. Complaining that [VCs] were jerks used to seem as naive to me as complaining that users didn't read the reference manual. Of course [VCs] were jerks. How could it be otherwise? But I realize now that they're not intrinsically jerks. [VCs] are like car salesmen or petty bureaucrats: the nature of their work turns them into jerks.

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