Source: TechCrunch
As founders increasingly seek validation from peers and cultural tastemakers over institutional pedigrees, VCs are outsourcing early-stage legitimacy to creators who already command attention in founder communities. Lightspeed's move reflects a calcifying problem for traditional firms: their brand no longer guarantees deal flow, and emerging founders evaluate capital quality by who vouches for it, not who writes it. VC's competitive advantage is shifting from institutional reputation to social proof manufacturing.