Crunchfund's sad mic drop
Primack has no real specifics except that Arrington wants to focus on his health instead of the rigors of writing checks and periodically appearing on stage at Disrupt (“I don’t have cancer or anything, please don’t make it sound so serious.”) At the time of writing, there’s nothing on Arrington's Twitter account about the move either.
Whatever the reason, it’s a sad end to Arrington’s career as a venture capitalist. It also compounds the sad end to his previous career as the tech industry’s highest profile commentator.
Perhaps at the very least it’ll provide an important lesson for any other journalists who might fall for the old “grass is always greener on Sand Hill Road” routine. (Something which, by the way, many of us close to Mike warning him against when he made the boneheaded decision to start Crunchfund.)
Of Mike’s generation of tech bloggers, he, MG Siegler, Leena Rao and Om Malik all quit journalism for venture capital. Several others tried but were rebuffed by major firms and skulked quietly back to their keyboards.
At last count, Mike is retiring, Leena is back at Fortune, MG quit Crunchfund for Google Ventures where he seems to have all but vanished (two investments in the past twelve months according to Crunchbase, and let’s not even mention the Bustle fiasco), and Om had to watch as GigaOm imploded without his leadership. Not a great omen.
There are plenty in the tech industry who say they miss Mike and Om’s regular critical commentary. Now more than ever.
Now give yourself a couple of hours and see if you can find a single person who thinks the universe needs more fucking venture capitalists.