Asset Management Is A Bizarre Industry Ripe For Disruption
David Teten
NOVEMBER 15, 2013
This is the psychology that drives VCs to load up a company with more capital, rationalizing that $5m at a $20m pre-money valuation is little different than $10m at a $40m pre-money valuation. By spending more money, investors can justify managing more money, which in turn increases their fees.
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