The venture capital industry is under attack. Prominent VC firm Andreessen Horowitz is “blowing up the venture capital model,” transforming itself into a “financial adviser” so it can beat “antiquated rules about what is and isn't a ‘venture capital’ investment.” The customers are also dissatisfied: VC funding isn’t right for most startups says Indie.vc founder Bryce Roberts, voicing the concerns of a growing number of entrepreneurs who are “jaded by the traditional [VC] playbook.“ And millions of participants in the stock market (about half of U.S. households own stocks) watch haplessly as a number of “unicorns” finally go public this year, “after large gains have been captured by elite early investors.”
