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Not since Adeo Ressi rocked the venture capital industry by creating the scathing VC feedback site, TheFunded, has an entrepreneur so bluntly articulated the frustrations about dealing with venture capitalists, and of the venture capital industry’s treatment of entrepreneurs.

Recent article by experienced and accomplished entrepreneur, Sindhya Valloppillil,  founder & CEO of Helix Men, states it forthrightly – but even then, the truth really stings:

At the risk of sounding like a bitchy girlfriend during a breakup, I’d like to tell you that the problem is you, not me. It really is you. In fact, I’d like to propose my issues and solutions for you VCs who are screwing up the start-up ecosystem. There are five primary issues:

  1. Your treatment of non-crony founders
  2. Your obvious lack of guidance
  3. Your herd mentality
  4. Your lack of domain expertise (and)
  5. Your flawed method of assessing consumer start-ups.

(from My Breakup Letter To (Some) VCs)

While the top VCs (or most prominent ones) aren’t so guilty of these criticisms, as a whole, most entrepreneurs would agree Ms. Valloppillil’s well-written assessment (or scathing indictment) of venture capitalists. Few, however, are so brave as to so articulate these crticisms so publicly.

 

Written by CJ Cornell

CJ Cornell

Serial Entrepreneur. University Professor. Software Engineer. Media Executive. Venture Capitalist. Researcher. Marketer. Advisor. Mentor. Author and Speaker. Founded or co-founded nearly a dozen companies in software, digital media and television.

For the past few years I’ve been Co-Director of the Knight Center for Digital Media Entrepreneurship and Professor of Digital Media & Entrepreneurship at Arizona State University, and the university’s first full time Entrepreneur-in-Residence. Currently Visiting Professor of Entrepreneurship & Innovation at New York Institute of Technology and Managing Director at Propel Ventures LLC.

 

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