Vivek Wadhwa, Vice President of Innovation and Research at Singularity University, recently wrote a column in the Washington Post on the arrogance and self-righteousness of venture capitalists in Silicon Valley.
Not long ago, venture capitalists were the kings and kingmakers of the tech industry; when they walked into a room, entrepreneurs bowed. However, now they have largely become irrelevant to start-ups and the tables have turned.
Vivek explains that although venture capitalist attitudes haven’t changed, despite their reduced functionality, the public no longer accepts their frat-boy behaviour, sexism, racism, and arrogance. The irony here is that social media, a technology that the tech industry created, is causing them to be accountable and to change.
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