Once a business can be completed by a single person without involving a division of labor, it will create a situation of its own.

First of all, from the general point of view, this is not a unique phenomenon of VC, once a business can be completed by a person to complete without involving division of Labor , it will produce a separate situation.
Education industry--teachers do well, come out alone travel industry--with a good team, out of the design industry---the designer did well, out of the way to go to a small barber shop, the last time I went to a familiar barber, the shopkeeper told me, he went from a solo.
In a very common situation, this problem cannot be solved until today because it is an employee's rational behavior. Can only continue to recruit new training, while the old staff lost.
Back to the VC, investors can basically rely on their own strength to complete the investment options, other administrative assistance are some can directly from the market recruit positions, do not have the core value.
So what about financing? Investment VC need to first financing, investment financing two different, this is not related to the division of labor? Your investors come out alone, it is impossible to have so much capital as Jason Home, have to find local tyrants melt money, it is not as good as in the original unit holding shares to work.
For the level two market is true, the level two market has a scale effect, an investor can pry billions of funds, so it is reasonable to stay in a fully capitalized company to play the value of their investment capacity.
But for the VC, the top VC a year up to see 400 items, morning one afternoon one, not counting holidays, not counted follow-up. The cultivation of the cattle, a year time also can see so many projects, not every project can be cast, even if cast, each project will only vote so some money. This is the biggest difference with the two-level market, two-level market bullish has been the stock, can be billions of hit, but VC bullish a start-up company, the early can only hit millions of. that is, VC investment does not have the scale effect, VC no matter the cattle, control the capital is also limited. If you insist on the amount of investment, it can only tiannvsanhua reduce quality.
Therefore, VC comes out on its own, there are two reasons:

1. Core business can be done independently
2. The natural limitations of capital that can be regulated

Once a business can be completed by a single person without involving a division of labor, it will create a situation of its own.