The Funded

I have been following The Funded blog for a number of months now. At first, I thought it was an amusing little web site. Like a Yelp just for VC's. The whole notion of making a generic web site a vertical is compelling, for more than one reason. But is this niche VC bitch site really serving its community? Does it help? Is it relevant? Does anyone care?

I classify The Funded entrepreneurs in two camps:

• Camp 1: Serial, successful with a track record.
• Camp 2: Not so much.

Camp 1 is generally forgiving and kissing ass because they are looking forward to another financing and want to make nice.

Camp 2 are pissed off because they want what Camp 1 has (had or is going to soon have).

So, what up with VC's? Well, I classify them too:

Camp 1: Tier 1 don't care. They have enough deal flow and believe that nothing original ever comes from noobs. VC's have their network and are used to being hated.

Camp 2: The rest of the VC's haven't had better than a 10% IRR anyway and are always sucking up to Tier 1 for crumbs. They don't care either. They are happy being 6th on the deal team.

So, what's the point of The Funded? You tell me.