From a New Yorker piece on venture capitalggait wrote: ↑Sat Feb 26, 2022 7:57 pmYou obviously never applied to law school, attended law school, never tried to get a job at a law firm, never did any hiring for a law firm, and never talked to a lawyer or law student.You seldom ever hear about race, or .edu backgrounds, when it comes to STEM. Which begs the question.....why is it that only the Ivy Leaguer's and lawyers seem to present themselves as the elitist's in the room, yet claim they are the furthest thing from it. It flirts with npd and narcissistic entitlement. Not implying this is you.
Had you experience with any of that, you would know that the legal industry (right or wrong) cares intensely about credentials. That's just how we are (right or wrong) and have been for forever.
What other industry would care (a lot) about whether you went to the 14th ranked law school in the country vs. the 15th? Any hiring partner in the country knows that there's the T14, and that school #15 is just not a member of that club.
And plenty of other industries are like that. Including tech. The programmers at Google come overwhelmingly from a small set of engineering schools.
Just like their founders do -- Bezos/Princeton, Gates/Harvard, Page and Brin/Stanford, Zuckerberg/Harvard....
The V.C. industry has grown exponentially since Perkins’s heyday, but it has also become increasingly avaricious and cynical. It is now dominated by a few dozen firms, which, collectively, control hundreds of billions of dollars. Most professional V.C.s fit a narrow mold: according to surveys, just under half of them attended either Harvard or Stanford, and eighty per cent are male. Although V.C.s depict themselves as perpetually on the hunt for radical business ideas, they often seem to be hyping the same Silicon Valley trends—and their managerial oversight has dwindled, making their investments look more like trading-floor bets. Steve Blank, an entrepreneur who currently teaches at Stanford’s engineering school, said, “I’ve watched the industry become a money-hungry mob. V.C.s today aren’t interested in the public good. They’re not interested in anything except optimizing their own profits and chasing the herd, and so they waste billions of dollars that could have gone to innovation that actually helps people.”
This clubby, self-serving approach has made many V.C.s rich. In January, 2020, the National Venture Capital Association hailed a “record decade” of “hyper growth” in which its members had given nearly eight hundred billion dollars to startups, “fueling the economy of tomorrow.” The pandemic has slowed things down, but not much. According to a report by PitchBook, a company that provides data on the industry, five of the top twenty venture-capital firms are currently making more deals than they did last year.