It's probably more reasonable to say "Not all the blame is on the VC". I've seen VCs, rich guys in their fifties with a lot of swagger, put unreasonable pressure on young padawan entrepreneurs to take more capital to grow faster than necessary. Then they over extended and it started failing apart. The entrepreneurs are ultimately responsible for taking the cash, but the power dynamic is such that the VCs surely deserve some blame for pressuring inexperienced entrepreneurs into biting off more than they could swallow.
It's probably more reasonable to say "Not all the blame is on the VC". I've seen VCs, rich guys in their fifties with a lot of swagger, put unreasonable pressure on young padawan entrepreneurs to take more capital to grow faster than necessary. Then they over extended and it started failing apart. The entrepreneurs are ultimately responsible for taking the cash, but the power dynamic is such that the VCs surely deserve some blame for pressuring inexperienced entrepreneurs into biting off more than they could swallow.