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VCs are experts at analyzing industries and identifying new opportunities, which is why it’s odd that the VC industry itself has so stubbornly resisted change.

Two years ago I wrote a post where I argued that innovative new VC firms are finally starting to change this:

Top tier entrepreneurs are frequently selecting their investors, not vice versa. The VCs most sought after are mostly new firms: big firms like Andreessen Horowitz, Union Square Ventures, and First Round, and micro-VCs like Floodgate (fka Maples), Betaworks, and Ron Conway.

Since then, the trend has become even more pronounced. VC is only partly about investing. It is primarily a service business whose purpose is to help entrepreneurs. MORE