Ask HN: VC funded startup downsides?

I'm starting to question the whole thought process behind VC funded startups : take money -> grow fast -> get to a liquidity event so investors can make returns. VC funded startups are all about growth growth growth. I feel like there are serious downsides to this mentality :

- encourages failing quickly hence is a wasteful process

- almost always companies do desperate things to keep growing and changing, hurting users eg- reddit

- a steady state i.e zero growth but profitable existence is not encouraged. Such a state of existence is actively discouraged so it becomes : keep growing or die already. A lot of companies that could exist, make a profit and keep users happy instead just die.

- It's likely you give up some control over the direction of the company having to balance stakeholders, getting to a liquidity event, growing a business.

What are your thoughts? Here's a crazy idea : YC but for bootstrappers. Give each startup $120k and ask them to pay back 5X that once they become profitable. The most valuable thing about YC is the people, network and fellow founders. I think removing the VC factor should be considered, at least for a parallel program.