In this whole saga of over valuations and companies going bust. What is your view?

VCs invest in PR to brainwash entrepreneurs to believing they are necessary to business success.

VCs are also humans, tending to back the people who do good PR. Always looking for big outcomes faster.

As a founder, if you are not seen as 'winning' all the time, you were irrelevant. Anything short of a 100x return for a vc is irrelevant.

Hence founders did everything to show that they are 'winners'.

Some founders started bloating their KPIs, making others look relatively worse on paper.

Other founders hired PR teams to make themselves look better to outsiders.

You can't blame founders (as unlikable as some of them are) for playing the game VCs created, product of the environment.

Herd mentality. Nobody is at fault, everybody is at fault.

VC's are equally responsible for not doing their due diligence

Creative destruction

To me it seems a lot of people had one major goal - get themselves a massive villa, a couple big merc/bmw/volvo and enough of an exit to last a lifetime of chilling. VCs want to hype and exit , dumping the load on retail investors (IPO) or later stage VCs . I am yet to see a founder who wanted to stick around to build a big business and a lifelong commitment like the founder of qualcomm or broadcom.

Let's change the first option to VCs or Founders optimising for themselves.

Over confidence and too much PR is driving this nonsense and utter waste of investors money, which could be better used to fund more meaningful startups