It can't possibly be an inevitable future. Something this would be super easy to game.
From their perspective, it's code running on an untrusted third person/adversary's computer... If only last 40 years of computer history could be any guide as to what might go wrong here ..
most VCs aren’t founders and those who are ex-founders usually made pretty terrible companies. very few exceptions. actually i can think of only one.
but once you have some money (like >5m which is achievable), you can throw it around a bit and you just need a handful of success stories built by someone actually talented.
then you take credit for it and craft a narrative instead, which is easier just like collecting management fees instead of building something yourself.
How is 5m easy to achieve? Asking for a friend.
I don't think he ever said it was "easy"