VCs want binary outcomes - either something grows 100 times or it dies. This is not because they are evil, or crazy (and don't want money from a slow growth but still money earning business) - but because this is a way to avoid principal agent problem (https://medium.com/@zby/the-problem-with-crowdfunding-81b53f...). If you don't want that - then don't take VC money. Fried is right with that, but the VC model works well in fields where there is a strong first comer advantage (like everything with network effects). Because there if you don't outgrow your competition - then you are dead.