VCs Are Diversified, Yes. But That Also Means They Need a Constant Stream of Hits. Like Netflix. Every Single Year. (opens in new tab)

Founders often say VCs are “lucky” because they’re diversified. They get multiple at-bats. They can spread their bets across dozens of companies and only need a few to work out. And yes — that’s true. But the converse is also true. And it’s the part most founders never really think about. VCs Don’t Just Need...