What venture capital isn’t

If you’re certain you understand the business, and you are confident your investment in it will succeed, what you’re doing is not venture capital, it’s banking.

Venture capital must have a high degree of risk in order to have a chance of earning the high returns venture capital investors expect from this asset class.

Venture capital doesn’t understand the startups it invests in.

Anytime you think you understand the business and the market in which it operates, consider whether you might be…