For what’s seemed like forever in venture capital, startups and investors have sought an edge by associating themselves with the hot space of the moment.

When Uber was ascendant in the early 2010s, startups habitually touted themselves as “the next Uber” of their field. When e-commerce aggregators were hot last year, it seemed like everyone was doing it. Same holds for autonomous trucking, 3-D printing, “buy now, pay later,” i-buyers. … Wherever you saw a hot trend, you’d find a cluster of well-funded startups. READ MORE