It's been going on like that for years. Think of all the wall st folks who made their careers on tech stocks of the past, like Rick Sherlund at Goldman with Microsoft, and Mary Meeker. The funny thing about the overwhelming attitude regarding the financial industry on HN is that the venture capital business is just another area of the financial industry and it has all of the same (mis)behaviors: managers benefiting from information asymmetry, high fees for questionable returns / risks, etc.