SAN FRANCISCO — Vinod Khosla has had it with VCs. Today at the TechCrunch Disrupt conference, the Sun Microsystems co-founder said that 90 percent of venture capitalists don’t add value to the startups they advise.
In a conversation today with TechCrunch founder Michael Arrington, Khosla, who runs the firm Khosla Ventures, said that entrepreneurs need to be careful with who they trust to advise them.
“Knowing whose advice to take and on what topic may be the single most difficult decision an entrepreneur will have to make,” Khosla said.
What’s worse, he said, most of the advice available to founders from VCs on their boards is bad.
“I would guess 70 to 85 percent of VCs add negative value to a startup in advising them,” Khosla said. “This is why I don’t show up to board meetings, usually.”
Instead, he said, he prefers to meet with entrepreneurs one-on-one, to avoid having to spend time in board meetings.