tl;dr: Anil Dash argues that venture capital has been corrupted by a handful of mega-firms like Andreessen Horowitz, which have grown so large (managing $50B+) that they no longer function as traditional VCs—instead operating as unaccountable private equity-style entities that profit from management fees regardless of portfolio performance. These "Cancer Capital" firms now dictate industry direction, extract returns through self-dealing before IPOs, and increasingly wield political influence (a16z spent $115M this midterm cycle) while pension funds and retail investors absorb the risk. The result: founders now serve VCs' political agendas rather than the reverse.