Zero reputational policing in VC: when power laws are large, carry checks erase everything

ctjlewis · x · 2026-09-05

Continuing his critique of VC ethics, Will Manidis argues that with power laws this large there is effectively zero reputational policing in venture capital: even the worst behavior — things even General Catalyst wouldn't do — gets forgotten once carry checks cash. "But they won't be forgotten at judgement," he adds.

A sharp observation on incentives and accountability in Silicon Valley venture capital.

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