--- title: "Meaning & Key Takeaway of: The last 10 to 20 years you’d think that…" description: "\"The last 10 to 20 years you’d think that it has been all about VCs making money, because that’s all we hear about. But really it is all about VCs faili..." image: "https://sms4smile.com/quotes/i/286/dave-mcclure-12214_challenges_the-last-10-to-20-years-you-d-think-that_328755.png" --- # The last 10 to 20 years you’d think that it has been all… ![“The last 10 to 20 years you’d think that it has been all about VCs making money, because that’s all we hear about. But really it is all about VCs failing and failing to return capital and being f**king idiots. VCs are stupid. They are absolutely stupid. Does anyone want to challenge that…” quote by Dave McClure](https://sms4smile.com/quotes/i/286/dave-mcclure-12214_challenges_the-last-10-to-20-years-you-d-think-that_328755.png) [Download](https://sms4smile.com/quotes/i/286/dave-mcclure-12214_challenges_the-last-10-to-20-years-you-d-think-that_328755.png) [Open image](https://sms4smile.com/quotes/i/286/dave-mcclure-12214_challenges_the-last-10-to-20-years-you-d-think-that_328755.png) > “The last 10 to 20 years you’d think that it has been all about VCs making money, because that’s all we hear about. But really it is all about VCs failing and failing to return capital and being f\*\*king idiots. VCs are stupid. They are absolutely stupid. Does anyone want to challenge that statement? Does anyone think that VCs are not stupid?” [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker argues that many venture capitalists are incompetent and repeatedly lose money, challenging the usual narrative of VC success. **In simple terms:** VCs often fail and lose money. Key Takeaway Question assumptions about VC competence. Themes venture capital failure mismanagement Mood skeptical critical Type cautionary analytical When to use this quote - startup funding - investment decisions - portfolio reviews - financial due diligence Key Concepts risk assessment capital allocation human error Questions to Reflect On - How can VCs improve their decision‑making? - What metrics reveal true VC performance? A Different Perspective Not all VCs are incompetent; many add value and succeed. ★ ★ ★ ★ ★ No ratings yet [Challenges](https://sms4smile.com/quotes/about/challenges/) [Customer](https://sms4smile.com/quotes/about/customer/) [Idiot](https://sms4smile.com/quotes/about/idiot/) [Kings](https://sms4smile.com/quotes/about/kings/) [Making money](https://sms4smile.com/quotes/about/making-money/) [Money](https://sms4smile.com/quotes/about/money/) [Thinking](https://sms4smile.com/quotes/about/thinking/) ## Related quotes > [We have Internet now and people are not stupid. But it seems that some people are trying to push the same agenda of the…](https://sms4smile.com/quotes/bassem-youssef/we-have-internet-now-and-people-are-not-stupid-but-it-seems-that-some/) [Bassem Youssef](https://sms4smile.com/quotes/author/bassem-youssef/) > [With psych it's all about how raw and stripped down and stupid it gets. Not stupid in a bad way, but more of the…](https://sms4smile.com/quotes/mike-romano/with-psych-it-s-all-about-how-raw-and-stripped-down-and-stupid-it/) Mike Romano > [Right, and the definition of basic stupidity is to keep doing the same thing over and over again while expecting a different result. I’m…](https://sms4smile.com/quotes/sherrilyn-kenyon/right-and-the-definition-of-basic-stupidity-is-to-keep-doing-the-same/) [Sherrilyn Kenyon](https://sms4smile.com/quotes/author/sherrilyn-kenyon/) > [Every day I hear stupid people say things that are not stupid.](https://sms4smile.com/quotes/michel-de-montaigne/every-day-i-hear-stupid-people-say-things-that-are-not-stupid/) [Michel de Montaigne](https://sms4smile.com/quotes/author/michel-de-montaigne/) > [Half the ish you think I don't know, I found out a long time ago](https://sms4smile.com/quotes/trilla/half-the-ish-you-think-i-don-t-know-i-found-out-a-long-time-ago/) [Trilla](https://sms4smile.com/quotes/author/trilla/) > [The public are not stupid.](https://sms4smile.com/quotes/pete-waterman/the-public-are-not-stupid/) [Pete Waterman](https://sms4smile.com/quotes/author/pete-waterman/) > [I may be fat and ugly, but I'm not stupid. If anyone had ever gotten past my looks, they might've noticed I have a…](https://sms4smile.com/quotes/julie-anne-peters/i-may-be-fat-and-ugly-but-i-m-not-stupid-if-anyone-had-ever-gotten/) [Julie Anne Peters](https://sms4smile.com/quotes/author/julie-anne-peters/) > [Intelligent people know they are intelligent. They also know that one person cannot know all, hence a person is not stupid simply because he…](https://sms4smile.com/quotes/lynsay-sands/intelligent-people-know-they-are-intelligent-they-also-know-that-one/) [Lynsay Sands](https://sms4smile.com/quotes/author/lynsay-sands/) > [There is a reason the Democrats have had only two Presidents since 1968 and have managed to lose control of both houses of Congress…](https://sms4smile.com/quotes/pat-sajak/there-is-a-reason-the-democrats-have-had-only-two-presidents-since/) [Pat Sajak](https://sms4smile.com/quotes/author/pat-sajak/) > [Donald Trump is not stupid. He knows exactly what he's saying. And he's just saying out there - I mean, forget about Muslims. He…](https://sms4smile.com/quotes/bassem-youssef/donald-trump-is-not-stupid-he-knows-exactly-what-he-s-saying-and-he-s/) [Bassem Youssef](https://sms4smile.com/quotes/author/bassem-youssef/) > [But people turn on their televisions. They turn on their televisions and they see what's happening in Iraq. The American people are not stupid.…](https://sms4smile.com/quotes/joe-biden/but-people-turn-on-their-televisions-they-turn-on-their-televisions/) [Joe Biden](https://sms4smile.com/quotes/author/joe-biden/) > [You haven't got a letter on yours," George observed. "I suppose she thinks you don't forget your name. But we're not stupid-we know we're…](https://sms4smile.com/quotes/anonymous/you-haven-t-got-a-letter-on-yours-george-observed-i-suppose-she/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Nonsense is socially OK, but not stupidity.](https://sms4smile.com/quotes/mason-cooley/nonsense-is-socially-ok-but-not-stupidity/) [Mason Cooley](https://sms4smile.com/quotes/author/mason-cooley/) > [As soon as I find myself in the presence of a rich man, I cannot help looking upon him as an exceptional and beautiful…](https://sms4smile.com/quotes/octave-mirbeau/as-soon-as-i-find-myself-in-the-presence-of-a-rich-man-i-cannot-help/) [Octave Mirbeau](https://sms4smile.com/quotes/author/octave-mirbeau/) > [I'm young but I'm not stupid.](https://sms4smile.com/quotes/abby-elliott/i-m-young-but-i-m-not-stupid/) [Abby Elliott](https://sms4smile.com/quotes/author/abby-elliott/) ## More by Dave McClure > [For the most effective pitch, focus 80% on the problem, 20% on the solution.](https://sms4smile.com/quotes/dave-mcclure/for-the-most-effective-pitch-focus-80-on-the-problem-20-on-the/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I think you want to show a level of transparency that breeds trust. You don't want to show a level of desperation that breeds…](https://sms4smile.com/quotes/dave-mcclure/i-think-you-want-to-show-a-level-of-transparency-that-breeds-trust/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I don't know if we're doing the optimal things that we can to try and connect different people on the planet with different points…](https://sms4smile.com/quotes/dave-mcclure/i-don-t-know-if-we-re-doing-the-optimal-things-that-we-can-to-try-and/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I think 'Shark Tank' is targeting companies that are really trying to raise their very first dollar. A lot of them aren't really tech…](https://sms4smile.com/quotes/dave-mcclure/i-think-shark-tank-is-targeting-companies-that-are-really-trying-to/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I want to invest in a functional product that people are using.](https://sms4smile.com/quotes/dave-mcclure/i-want-to-invest-in-a-functional-product-that-people-are-using/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [The earlier you invest, the higher that attrition rate is because it's compounded. We have a more scientific method of investment.](https://sms4smile.com/quotes/dave-mcclure/the-earlier-you-invest-the-higher-that-attrition-rate-is-because-it-s/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [Food tech has been kind of an area that we have been making a number of investments in. Kind of a big boring industry,…](https://sms4smile.com/quotes/dave-mcclure/food-tech-has-been-kind-of-an-area-that-we-have-been-making-a-number/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [A bubble in early-stage funding means maybe there's $300 million at work when maybe there should be $150, as opposed to a bubble in…](https://sms4smile.com/quotes/dave-mcclure/a-bubble-in-early-stage-funding-means-maybe-there-s-300-million-at/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [There's been entrepreneurs working in the Valley for probably 50-60 years. It's not to say that you can't create that in other places, but…](https://sms4smile.com/quotes/dave-mcclure/there-s-been-entrepreneurs-working-in-the-valley-for-probably-50-60/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I figured maybe I had some talent as an investor… since it seemed like I was only a half-assed entrepreneur.](https://sms4smile.com/quotes/dave-mcclure/i-figured-maybe-i-had-some-talent-as-an-investor-since-it-seemed-like/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [I think you'll see a lot more people in the Valley get more involved in politics.](https://sms4smile.com/quotes/dave-mcclure/i-think-you-ll-see-a-lot-more-people-in-the-valley-get-more-involved/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [We are trying to build large, lasting businesses.](https://sms4smile.com/quotes/dave-mcclure/we-are-trying-to-build-large-lasting-businesses/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [We often say if you have traction, lead with traction. Talk about specific customers, usage numbers, revenue metrics - anything like that that really…](https://sms4smile.com/quotes/dave-mcclure/we-often-say-if-you-have-traction-lead-with-traction-talk-about/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [There's a mathematical way to get success.](https://sms4smile.com/quotes/dave-mcclure/there-s-a-mathematical-way-to-get-success/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) > [If you already have some amount of significant traction with customers, either in usage or in revenue, you should very quickly try and get…](https://sms4smile.com/quotes/dave-mcclure/if-you-already-have-some-amount-of-significant-traction-with/) [Dave McClure](https://sms4smile.com/quotes/author/dave-mcclure/) [Explore all 56 Dave McClure quotes ](https://sms4smile.com/quotes/author/dave-mcclure/) ## More Challenges quotes > [I know for my wife and I, we always loved the idea of being young parents. It is an incredibly inspiring and challenging job…](https://sms4smile.com/quotes/taylor-hanson/i-know-for-my-wife-and-i-we-always-loved-the-idea-of-being-young/) [Taylor Hanson](https://sms4smile.com/quotes/author/taylor-hanson/) > [Our biggest challenge is to eliminate the popular perception that economists don't have anything useful to say.](https://sms4smile.com/quotes/mark-zandi/our-biggest-challenge-is-to-eliminate-the-popular-perception-that/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [I think books in which people are really happy and things are going well are probably the most challenging novels there are to write,…](https://sms4smile.com/quotes/anna-quindlen/i-think-books-in-which-people-are-really-happy-and-things-are-going/) [Anna Quindlen](https://sms4smile.com/quotes/author/anna-quindlen/) > [I think the next 50 years are going to present the human race with challenges that so far exceed the limitations of geopolitical boundaries…](https://sms4smile.com/quotes/zachary-quinto/i-think-the-next-50-years-are-going-to-present-the-human-race-with/) [Zachary Quinto](https://sms4smile.com/quotes/author/zachary-quinto/) > [“Doing the work to transform your dreams into reality is like walking across the earth. It can be that hard, and it can take…](https://sms4smile.com/quotes/dragos-bratasanu/doing-the-work-to-transform-your-dreams-into-reality-is-like-walking/) [Dragos Bratasanu](https://sms4smile.com/quotes/author/dragos-bratasanu/) > [I want to be perceived as a guy who played his best in all facets, not just scoring. A guy who loved challenges.](https://sms4smile.com/quotes/michael-jordan/i-want-to-be-perceived-as-a-guy-who-played-his-best-in-all-facets-not/) [Michael Jordan](https://sms4smile.com/quotes/author/michael-jordan/) > [People in great groups have blinders on. Their work is all they see. They value failures as learning opportunities. They are optimistic, not realistic,…](https://sms4smile.com/quotes/warren-g-bennis/people-in-great-groups-have-blinders-on-their-work-is-all-they-see/) [Warren G. Bennis](https://sms4smile.com/quotes/author/warren-g-bennis/) > [If, as I anticipate, a wide array of personal, portable information/communication devices becomes increasingly important and widespread for information-intensive users, it will be a…](https://sms4smile.com/quotes/tom-peters/if-as-i-anticipate-a-wide-array-of-personal-portable-information/) [Tom Peters](https://sms4smile.com/quotes/author/tom-peters/) > [“Two powerful, little words I've learned to use when facing challenges, fears, and doubts— so what? ”](https://sms4smile.com/quotes/richelle-e-goodrich/two-powerful-little-words-i-ve-learned-to-use-when-facing-challenges/) [Richelle E. Goodrich](https://sms4smile.com/quotes/author/richelle-e-goodrich/) > [It's a challenge to work a character's arc into a format in which you only have a very limited amount of time to grow…](https://sms4smile.com/quotes/ginnifer-goodwin/it-s-a-challenge-to-work-a-character-s-arc-into-a-format-in-which-you/) [Ginnifer Goodwin](https://sms4smile.com/quotes/author/ginnifer-goodwin/) > [I personally think if something's not a challenge, there's no point doing it, because you're not gonna learn much.](https://sms4smile.com/quotes/anonymous/i-personally-think-if-something-s-not-a-challenge-there-s-no-point/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Men want a challenge, but they want a challenge they can win.](https://sms4smile.com/quotes/whitney-gaskell/men-want-a-challenge-but-they-want-a-challenge-they-can-win/) Whitney Gaskell > [Growing up with a parent in the army, I saw firsthand the challenges our service members face when transitioning to new jobs after time…](https://sms4smile.com/quotes/sharice-davids/growing-up-with-a-parent-in-the-army-i-saw-firsthand-the-challenges/) [Sharice Davids](https://sms4smile.com/quotes/author/sharice-davids/) > [Nobody challenges me. I challenge myself.](https://sms4smile.com/quotes/shakuntala-devi/nobody-challenges-me-i-challenge-myself/) [Shakuntala Devi](https://sms4smile.com/quotes/author/shakuntala-devi/) > [Challenging is good, like good conversation, yes? Who wants to have dinner with the same old easy listening music sounding friends all the time?](https://sms4smile.com/quotes/hilton-als/challenging-is-good-like-good-conversation-yes-who-wants-to-have/) [Hilton Als](https://sms4smile.com/quotes/author/hilton-als/) [Browse all 8,851 Challenges quotes ](https://sms4smile.com/quotes/about/challenges/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The last 10 to 20 years you’d think that it has been all about VCs making money, because that’s all we hear about. But really it is all about VCs failing and failing to return capital and being f**king idiots. VCs are stupid. They are absolutely stupid. Does anyone want to challenge that statement? 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