X @Nick Szabo

RT Dan Gray (@credistick)Repeated studies have shown that VCs overindex on shallow founder attributes, leading to predictably bad investments — and missed good investments.The reason this happens is simple: VCs convinced themselves that 'fundraising' is a desirable trait in founders.So, a product of incentives and recursive thinking, the industry converged on an "ideal founder" archetype that can (therefore) most easily raise capital.Of course this nonsense is eroding returns, but it makes investing easier ...