VCs should give up on the winner-takes-all approach to investing

Venture capital is the business of hitting home runs. But must a startup have the potential to capture the vast majority of market share in its category to earn an investment? I don’t think so.
A few weeks ago, the co-founder and CEO of Thumbtack, Marco Zappacosta, came on TechCrunch’s Found podcast to talk about building his home services startup. I asked him what was next for Thumbtack, considering the startup is 15 years old and was last valued at $3.1 billion. I thought he might talk about a potential exit, but his answer surprised me.
“For our industry, [the adoption of booki

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