Note to VC: “Wake up.”

Via: Lone Ronin on the oddness of venture capital.

Of course, this number is meaningless. No one can really forecast this kind of return on an investment. No one can really say, "Yeah, given our business model and the way we're structuring this deal, I totally see a 10x multiple in two years."

 

I mean, one more time, seriously? Anyone who stands in a meeting and says, "You'll get back ten times what you put into this thing," is absolutely, completely, without exception, lying through their teeth or overly naive about business in general.