[TheTarquin]

This is an awesome take on the VC game. I imagine it's not the only opinion, however. The metaphor he sets up with regards to customers and shareholders could also be twisted (and I'm sure is, by some VCs) to a more hierarchical idea in which the VC needs to answer to the shareholders. Some VCs may even want to stretch that notion further and say that the startup is answerable to the VC.

I think this is a less accurate analogy, but I could certainly see it giving rise to the idea of "the Patzer" as something less like a business decision and something more like a sin against the VC.