Thanks Joyce for an interesting article. It could have been better if you’d employed less jargon (though thanks for the links to explain it, on the many occasions necessary); even though I’ve been involved with VCs one way or another for 20+ years I still find jargon unnecessarily obfuscating.

One other point: have you found European VCs to be slower-moving, less risk-positive, and in general more conservative in outlook than US VCs? I’ve very limited experience with VCs in Europe, and that is likely out of date now, but a few years back European VCs were always fantasizing about being early or seed stage players while resolutely investing only in companies that were already generating significant revenues.

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.