The other day, at a dinner party, a man (probably in his 50s) advised me against working with professional VCs (venture capitalists).
About 6-7 years ago, after many years at one of the largest tech companies, he started his own company.
Then, VCs made him an offer… he accepted… and so began the bad part of his story. According to him, most VCs basically force the entrepreneur to fabricate a fairy tale that they use to raise outside capital. Lies upon lies upon lies – he said. The real business of the company is irrelevant to the VCs.
At some point, he was forced to leave his own company. Now he works again for his former employer – the big tech company.