I like this section:
Thing 2: Be a great partner to the startup
In the early stage investing business, most startups don’t work out. So most VCs are dealing with a portfolio that has many investments that are struggling or worse. VCs that serve on boards have a duty to do their best to help the company though these tough times. It’s very stressful and intense. It requires some combination of being proactive, being engaged and being patient. It requires dealing with a problematic co-investor(s). It can be about founders that don’t get along. Or a cash crunch. Or a lawsuit. Or cultural issues. And it happens a lot. It’s likely the least understood and appreciated part of this work. And when I meet someone who wants to be a VC, I spend a fair amount of time talking about this part. If this sort of thing feels allergic to you, then this business isn’t for you.