Jeff Bussgang has today’s great post up titled Let’s Play "Blame The VC." It’s something that regularly confounds VCs and entrepreneurs alike. The punch line:
"Then, when you don’t get funding, play "blame the VC". Tell all your friends that those risk-averse idiots wouldn’t know a good deal if it hit them in the face. And especially the ones in [insert your geography here]."
Jeff does a good job – in a relatively self-deprecating way – of dissecting this endless discussion.