True Ventures founding partner Tony Conrad believes that “the current education of entrepreneurs is unprecedented.” With resources like TheFunded, which allows entrepreneurs to rate and review VCs, and AngelList, there is more information and data about the funding world in the current market. VCs and investors realize that they need to be part of this conversation. “Unlike ten years ago, entrepreneurs know what a standard liquidation preference looks like. VCs have learned that you can’t put out aggressive terms, because the entrepreneur knows better,” says Conrad.

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I like how there is already an investor in the comments being transparent about how long he has been transparent. :)

Interesting things happen when it's a seller's market for backable startups.

The playing field is still uneven because entrepreneurs need funders, not vice versa.

The entrepreneur's main option if s/he doesn't like a deal is to walk away.

I've been on thefunded for a long time. It's not as useful as you might think. The community dies from time to time, the useful aspects of true information that they claim to provide, like a list of funding VCs, ratings at each step, honest feedback about perceptions of partners and their abilities, and if a VC firm is in active litigation are all useless.

Most posts are "hey, I'm pretending to rate a VC, but really look at how well my startup is going so people should invest" and "this VC sucks because they never got back to me for 3 months and finally gave me a pass but wouldn't tell me why".