Do Venture Capitalists further humanity through high-technology investment or are they just out to make a buck? - Quora
This question is predicated on a big assumption: that the goals of furthering humanity and pursuing a buck exist in diametric opposition on the moral scale.
That is perhaps a flawed assumption. While it’s certainly true that VCs as a near rule have at least one eye on the proverbial buck at all times (it is their fiduciary duty), it’s also true that a great many of them relish the sense that they are part of the magnificent force pushing technology ever upward and forward.
Think about the people you’ve met in your life. What percentage of them do you suspect have thought to themselves (or said to you): “I want to dedicate my entire life’s work to cranking on the dolla-bill machine?” Yes, there are people like this roaming the streets, but no, they do not come near composing the majority. They also generally work at hedge funds, not in venture capital.
Most VCs are like most other humans with significant ambition: they are driven by a mixed range of emotional and rational forces that they compile into the narrative that forms the bases of their identities. Very few people want to tell themselves the story that their natures revolve around the hunt for cash. (The exceptions, as I said above, can be found in hedge funds.)
When you listen to prominent VCs talk or read their writing, doesn’t it seem clear that they are legitimately excited by factors that extend beyond the Benjamins? Yes, being close to big dollar amounts and having the power to push them around triggers sensations that appeal to nearly all humankind. But if you pay attention to the words of, say, Marc Andreessen, Ben Horowitz, Peter Thiel, John Doerr, Steve Jurveston, Mark Suster or Fred Wilson, isn’t it obvious that their goals and visions extend way beyond merely making dolla dolla bills accrue in their coffers?
These guys love to be part of the action of the startups and entrepreneurs. They love to connect with and occasionally put cash behind a diverse range of extraordinary technology and business minds and ideas. They treasure the notion that their insights and bets might disrupt and readjust the world and yes, even push humanity forward. They also love it when the world rewards their insights and bets with the cold metric of cash money, y’all.
But that’s mostly because the cash just proves their insights and bets were right.
Cross-posted from Quora: Do Venture Capitalists further humanity through high-technology investment or are they just out to make a buck?
