GoKawiilVC isn’t VC anymore — understanding the rise of Cancer Capital 02 Sep 2026 2026-09-02 2026-09-02 /images/cancer-capital-1.jpg power, culture, vc, tech power culture vc tech 2026 We really, really need to talk about venture capital. Because it’s not “venture capital” anymore. There’s a huge disconnect between what most people think of... 10
We really, really need to talk about venture capital. Because it’s not “venture capital” anymore.
There’s a huge disconnect between what most people think of VC, where an investor has a big fund and cuts checks to help a founder build a company, and the current reality, where a handful of billionaire extremists use the cover of “VC” to advance an outrageous agenda where they’re accountable to no one.
I’m gonna explain this from a standpoint that almost never gets articulated: I’ve personally raised tens of millions of dollars in venture capital funding as CEO of startups, and been directly involved as a board member or advisor in raising hundreds of millions more. I’ve sat in board rooms, across the table from the people I’m talking about here, or been at the industry events that they frequent. So this isn’t sour grapes because these VCs wouldn’t cut me a check, or some chip on my shoulder about these investors due to a business deal. This is what I know about these bad actors because I’m part of the community of creators and inventors who build the things that they used to invest in — back when they still cared about innovation.
Many of the trends in society and politics that people are most angry about, from data centers being forced down everyone’s throats, to all of our favorite apps and services being enshittified, to politicians being paid to ignore the will of the people, are all being supercharged by these cancer capitalists. They have warped the structure of venture capital into a form of oligarchy that answers to no market, no regulators, and no voters. So it’s worth understanding exactly how they did it.
How Venture Capital became Cancer Capital
I’ll be breaking these points down in further detail, but just to begin framing the concept, I’ll lay out the core idea here in some bullet points (so that you’re not tempted to run this whole thing through an LLM):
Venture capital was only supposed to be a tiny segment of the overall capital market, but it has expanded to become the primary form of funding that new companies consider — it was never the only way, and it didn’t used to be the default one
VC was meant to be a small percentage of overall investment because it represents the high-risk, high-reward part of a portfolio; to be healthy, most of a portfolio — or most of an economy — needs to focus on assets that are more stable and predictable. But a cancer grows from a cell that a body needs in small, healthy amounts, and that turns deadly when it grows without limit until it harms, or even kills, its host.
As regulations have gotten looser in recent years, a handful of venture capital firms have become “do everything” funds that combine private equity with their existing VC businesses, and expand to manage massive stockpiles of tens of billions of dollars
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