When Your Seed Round Is A Party, Few People Have Fun

Social proof is the meanest mofo in the Valley. Second tier VCs want to be in the same rounds as first tier VCs and third tier VCs want to get in on the deals offered to 2nd tier VCs. It's all very high school if you think about it. What's worse is that TechCrunch, Twitter and Angelist have made the "who's in with who" more blatant nowadays, and thus our industry is seeing an influx of self-perpetuating celebrity seed rounds. It's easy to name names (Exec, Socialcam, Pair) but harder to begrudge a startup from taking money from the cool kids. I mean, who's going to say no to Andreessen as an investor?

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ngwEjrQQts0/

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