In this week's episode of the StrictlyVC Download podcast, veteran VC Aileen Lee was direct about a major consequence of the recent boom-and-bust cycle: many companies stuck in limbo aren't just struggling to regain their footing after raising too much money at unsustainable valuations; they've also lost the champions who once backed them. Lee was discussing how limited partners hesitate to criticize powerful fund managers, fearing they'll be shut out from investing in those firms again. But she imagined one thing they'd say if they could speak freely: 'Everybody wants to get into X brand name fund, and so they never will criticize them [for fear of repercussions] . . .they probably talk about us behind our backs [laughs].. . .But what they would say is [that] all the people who have [were] hired at these venture firms during the ZIRP era . . . they made a bunch of crappy investments' and now they are being elbowed out ' except that it's too late, observed Lee. 'All [the LPs'] money...
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