A well-known venture capitalist recently told me in passing that meeting with bankers wasn’t his thing. It’s a sentiment I hear often from investors who privately mutter that bankers aren’t good for much and certainly aren’t worth their many millions in fees.
Bankers aren’t particularly popular anywhere. But Silicon Valley has a unique breed of disdain for Wall Street—and it appears to be growing. In the Silicon Valley food chain bankers fall well below venture capitalists. VCs give young companies money; bankers take money in fees for delivering little value, VCs and entrepreneurs often contend.