The venture business needs an overhaul, and below is my low-burden / high-impact plan for change. Venture capital is a systemic risk to our innovative culture, to $200 billion in direct asset allocations and to $2.9 trillion in spawned revenues. Yet VC has produced less than 10 percent IRR for the last 10 years, promoting a fear/flight response by limited partners, on the verge of pulling their money out of the sector and investing it elsewhere. Top technology and investment experts now subscribe to the mediocrity of the current state of venture, with Mike Moritz stating venture has been underperforming for 20 years. I agree.

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