That site seems to directly address Matt’s original point of “pick a person, not a fund”. Also, it lets people make Sayographies about anyone, not just VCs.

That said, I definitely think TheFunded is an interesting concept. VCs are notoriously clubby and old-boy-network-ish. I am not saying that’s a fair assessment, just that it is a common perception. Sites like TheFunded and SoWeSay should help the community shed some more light into the darker corners of tight-knit groups like VCs.

Making rude comments about VC’s who wouldn’t fund your dream has clear therapeutic value to the entrepreneur, but I think there is also real value to VC’s smart enough to use such commentary as a business diagnostic. I’ve been in the room at a number of these pitch sessions over the years on both sides of the table, and continue to find it shocking the number of VC’s who are unwilling or unable to stay focused for even 30 minutes at a stretch, fumbling with BlackBerry’s, late for their own meetings and often disappearing mid-meeting for extended periods of time, usually with no explanation when and if they return. Forget the lack of professionalism; it’s also shockingly bad manners that leave a lasting impression … yes VC’s should consider the negative brand equity they create as well, and here’s a feedback loop, albeit a sometimes harsh one.

However, this isn’t necessary a bad thing. It might be about reading between the lines. There are also other subtleties that entrepreneurs can pick up that might lead them in one direction versus another.

What I’d love to see, even in a totally positive way, are comments about which markets a VC truly understands. This would be useful in all sorts of ways, even for the Fourth Estate.