It's fairly normal for successful venture capital pros to spend their careers building up a track record at a larger firm, and then "spin off" with their own firms. Lately, as limited partner interest in venture continues to grow, it feels like just about every partner who isn't listed on their firm's Form ADV is launching their own fund.
Another fairly normal thing: Lots of people who hold the "partner" title at venture capital firms don't actually have decision-making power. For years startup gurus like Paul Graham have told young founders not to waste time talking to venture associates. So now some firms give their associates the "external" title of partner.
Image: http://fortune.com
