The last week has made me really question why VC firms don't provide cash management crash courses to founders, or something of the like (cash management consultants or something). It seems like a huge flight risk to write $10MM and $20MM checks and just hand them to a founder with no financial staff whatsoever who only cares about finding PMF and who couldn't care less about cash management. It's great that Mercury is doing all this stuff for founders, just seems like it should be table stakes for VCs to require some sort of cash plan to be approved before handing over the check. But what do I know maybe 10MM is peanuts.
VCs are psychopaths. They don't care if the world burns down as long as 1 out of 50 investments turns into a huge valuation. Poor cash management? They wouldn't care if he was feeding stray cats to an ML algorithm and burning $1000 bills to power a crypto miner.
