Where are the Venture Capitalist's Yachts?

Yes the real title refers to customer's yachts, I know.  Tom Perkins owns the coolest sailing yacht in the world.  You can see it here.  You don't buy a Perini Navi unless you have serious bucks.  I've had the pleasure of sailing on this one with my kids.  As it was their first time on a sailboat, I said, "No, this isn't normal.  This is bigger than the Mayflower."

So, Tom Perkins writes in today's WSJ about why venture capitalists are not the pigs investment bankers are.  He says VCs work much harder for their money.  Bankers make big, quick hits because they "do deals".

We're going to talk about how VCs make their money.  Only one part of it.  VC fund investors commit capital to investments for a very long time, say seven years, and they agree to pay 2% annual management fees, and 20% performance fees to the manager. This is going to get a little tricky...so hold on...