My theories and experiences, why so many VCs are unhappy (even though most are very well paid)
x.com
Well-paid VCs report widespread unhappiness — and the reasons may expose a fundamental mismatch between the job's rewards and what actually drives satisfaction.
Hedonic AdaptationSelf-Determination TheoryPrincipal-Agent ProblemExtrinsic vs Intrinsic Motivation
Theory Briefing
- SaaStr founder Jason Lemkin argues that high compensation doesn't shield VCs from a specific, structural dissatisfaction baked into the role.
- VC work involves long feedback loops — years pass before knowing if a bet was right, making it hard to feel progress or mastery.
- The power dynamic flips after writing a check: founders no longer need to impress you, removing a key source of social validation.
- Success in VC is largely outside your control — a portfolio company's outcome depends on the founder, not the investor.