Extracts from a great post by William Luciw, Managing Director, Viewpoint West Partners LLC, in the AlwaysOn-Network blogzinw:
(-) BAD VC: Refers to "Winning DNA" and uses this nebulous criteria as an excuse to fund friends and family.
(+) GOOD VC: Never, ever(!), makes eugenics references.
(-) BAD VC: Refuses to drive more than 30 minutes to see entrepreneurs, but is concerned about their "China Plan".
(+) GOOD VC: Understands that you must go to the market to actually transact commerce, and does not sit on an Ivory Hill refusing to roam.