What's the Pro and Cons of VC?

Stanford's Paul Allen talks about the benefits and drawbacks of venture capital. He says traditional VC is expensive in terms of dilution and ownership that has to be given up for it to work. Steve Jobs refused to go on stage at a Harvard event with his entire management team from Apple because he said "I just not me" Microsoft was a team so even Bill Gates would echo this if he were here, Mark Zuckerberg tells students.