At a basic level venture capitalists are arbitrageurs: they have access to more information than those with the capital, and access to more capital than those with information, and they profit by exploiting the mismatch.

I always make it a rule to let the other fellow fire first. If a man wants to fight, I argue the question with him and try to show him how foolish it would be. If he can't be dissuaded, why then the fun begins but I always let him have first crack. Then when I fire, you see, I have the verdict of self-defence on my side. I know that he is pretty certain in his hurry, to miss. I never do.

It's impressive when you're such a mysterious fictional character that even avid enthusiasts are debating your existence within the mythos.

At a basic level venture capitalists are arbitrageurs: they have access to more information than those with the capital, and access to more capital than those with information, and they profit by exploiting the mismatch.