?Venture Assistance?: A Philosophical View Of What Boards Should And Should Not Do

Editor?s note:?Legendary investor Vinod Khosla is the founder of Khosla Ventures. Most VCs pitch their venture firms as value added to a company?s entrepreneurial founders. Personally, I think leading VC firms do a pretty good job of being supportive of their companies, and most entrepreneurs funded by good funds like their investors. But, on the question of ?value added,? most venture capitalists, even among the leading firms, are pretty passive and ineffective when it comes to assisting companies. In my view, many if not most of them haven?t done enough in their careers to earn the right to advise entrepreneurs, a job I consider laden with responsibility.

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