This is spot on. Your time at Bridgewater gives you GREAT perspective on the lack of rigor in the venture process. It is virtually the opposite of what Bridgewater deploys - rigorous process and radical transparency. It is not a mystery why most venture funds destroy value - earn less than a Russell 2000 index fund.

See my white papers published in Institutional Investors Journal of Private Equity on this subject - http://bit.ly/3c0RTh0.

Or read my Medium post - It's Time to Professionalize the Venture Model. https://joe-26467.medium.com/its-time-to-professionalize-the-venture-model-2173b51f4f2d