"The Venture Capital Deformation" by Darek Klonowski offers an in-depth analysis of the challenges and changes in the field of venture capital that have occurred over the past three decades. Despite robust growth in this sector, returns have declined, raising the central question of the book: Why is this happening? Klonowski examines the various deformations that influence the venture capital process and alter the interactions among the actors in the ecosystem. These changes lead to a decrease in the value of venture capital and highlight that the benefits for entrepreneurs are limited, while potential drawbacks can arise. The book also sheds light on the structural problems caused by imbalances and conflicts of interest among the stakeholders, particularly between general and limited partners. It is a critical engagement with an important topic in the economy and provides valuable insights for professionals and those interested in venture capital and corporate finance.