There's an unequal distribution of power in the venture capital industry: The best firms get the best deals and the best deals provide disproportionately higher returns.
The best deals are super competitive to get in to. Naval Ravikant has said VCs don't have proprietary deal flow, they have proprietary access. VC firms will compete for access.
Venture capital is actually a fairly competitive industry. It's a tough industry to be in if you're not at the top. But if you are, it can provide incredible returns.
To read the original article: Competing in the Venture Capital Industry | Michael B. Fishbein
