VC’s hold entrepreneurs accountable. VC’s, per your argument, can be held accountable by LP’s. But what is the incentive for them to do so? Clearly doing what’s right isn’t a driver. Few people (at least entrepreneurs) have insight into who the LP’s are behind VC’s and therefor cannot provide any pressure in the way of “voting with their dollars (business pitches)”, and besides they’re blatantly incentivized to take money wherever they can get it.
So who is it that holds VC’s accountable? If market forces aren’t enough to summon change, I’m curious what your thoughts are about the possibility of legislation to influence culture?