"Startups and tech giants who disrupt industries value young people with diverse perspectives, innovative thinking, and fresh college educations. With plenty of high paying jobs at mission driven startups which promise fulfilling work and a chance to change the world." This is merely a concatenation of trite cliches. More importantly, VCs cluster around the Valley because of historical chance, but having established themselves there are now locked firmly into group-think. The VC moonshot model has been broken for decades but persists because no one imagines a different model - so much for creativity and a chance to change the world. As VCs expand, they take their anachronistic models with them - models that guarantee a 90% failure rate. The reason VCs do well in bubbles is because they depend on frothy markets; fundamentals are ignored in favor of loss-making growth. When markets turn down, VCs fall apart because the game has to pause. If VCs used a different model (no moonshots, just solid investments in companies with solid business opportunities) they'd be less rockstar-like but would likely return more to their LLPs. But hey, who cares about that when you can be sexy, at least for as long as the music keeps playing? Smart investors would form consortia and employ different criteria, and slowly disintermediate today's VCs. Now that would be innovative, and that would change the world.

Anyone who enjoys my articles here on Medium may be interested in my books Why Democracy Failed and The Praying Ape, both available from Amazon.