The Reality of Venture Capital

There is no longer such a thing as proprietary deal flow in VC. It's now more about winning a deal versus picking a deal, he says. "If you're in venture now, and I'm sure you policy it, Nick, if the company doesn't have more than one term sheet, that may be the unicorn these days," Ben adds. 'I think this increased competition of going away from just like going from just picking, but now you have to win the right to work with entrepreneurs'