Venture Model Makeover & Diet Plan—Step Two http://bit.ly/3qwNyf — Love this post and its content but Paul Kedrosky doesn’t answer the key question– how do we get LPs to drive this? The standard 2 and 20 structure persists for the same reason banking fees do (Felix Salmon » Blog Archive » Why investment bank profits persist | Blogs | http://bit.ly/1LF3tV)