this is compounded by young, newly rich tech workers (no kids, no mortgage, maybe not even a car) experimenting with being a VC because they've recently reached accredited investor status.
and it's not just ZIRP. every recent IPO or liquidity event creates literally 500 more of these guys.
> maybe not even a car
Hold up — one can be mature without any of those things, but cars are especially optional.
maturity has nothing to do with it. these are recurring expense liabilities with very very distant return horizon.
They say Silicon Valley was more of a documentary than a comedy, and now we have one more way life imitates art: A growing army of Erlich Bachmann's.
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