Something venture capitalists cluster around already-popular deals rather than seeking overlooked value

Evidence

I heard this metaphor dozens of times; the saying “everyone wants to take the pretty girl to the dance,” refers to the tendency venture capitalists have to cluster around popular deals. (The prevalence of this phrase is very revealing of who is in these meetings.) In reality, everyone wants to be in business with young, white, male entrepreneurs with connections to high-status people, a pedigree from certain companies, a well-known mentor, and perhaps a Stanford degree. — Alice E. Marwick, Status Update, 667

Categorization

• DEFINE: Defines a Valley idiom capturing herding behavior in funding — a mechanism distinct from evaluating underlying merit.
• CANDY: The ‘pretty girl to the dance’ metaphor packs the whole critique of VC herding into one vivid, quotable line.
• XREF: Connects to financial herding/bandwagon effects in behavioral economics and to the book’s broader point about how status is performative.