I (Michael Arrington) recently had a conversation with venture capitalist and tech pundit Paul Kedrosky about all the criticism being heaped on venture capitalists these days ( much of it here on TechCrunch). He has a slightly different view than some others on what VCs are supposed to be doing, and how well they’re doing it. And frankly I tend to agree with him. VCs supply much of the capital that drives the entire startup ecosystem. The world would be a much less interesting place without them.