A VC: Building A Bust Proof Portfolio

So here are the things that those "survivor" companies had in common:
- Lower burn rates
- Business models, revenues, and customers
- Good venture syndicates with real VC firms (as opposed to strategic investors, amateurs, new funds, etc)
- Realistic valuations (as opposed to valuations that could not be sustained when the market broke)
- Committed entrepreneurs who were in it for more than just money
- Long time horizons for everyone involved (entrepreneurs, investors, employees)
- Reasonable exit expectations
- Less capital raised and less preferences on top of the founders