Podcasts present many opportunities for both VCs and startups from deal sourcing, brand and narrative building, to even the democratization of knowledge. However, it seems like these benefits have prevented many from seeing the risks associated with leaning too heavily into podcasting. 

Hype waves emerge naturally in venture capital because the industry operates with limited transparency, long feedback cycles, and intense competition for access to the next transformative company. These dynamics amplify narrative-driven investing, where compelling trends quickly attract capital and talent, often reshaping entire sectors before fundamental results are proven. In other words, hype waves are particularly impactful to the venture space and are considered natural. That said, hype is by nature crowded and not differentiated. While the product provided by a hyped-up service might be interesting, competing companies become nearly interchangeable.