Fred Wilson's venture-capital firm, the paper of record tells us, "has built its portfolio making small bets on young companies." That is an excellent definition of early-stage venture capital. But is Wilson, of Union Square Ventures, to be congratulated with a glowing New York Times profile merely for doing his job? Apparently so. The real thing that distinguishes Wilson from his peers are not his practices or his profits; it is his prolixity. Wilson writes a blog read by some 25,000 people a month. Newspaper reporters can relate to him as a wordsmith rather than a financier. Also, he is in New York, which makes him geographically convenient for the media capital. The news event which prompted this profile?Wilson gave a speech last week in Manhattan. In other words, there was no reason to run the story. What's really going on? Wilson himself explains: The Times had this piece in the works for weeks. My theory: Editors there felt it needed to run soon, before the sector Wilson favors — hipsterish Web startups like Twitter and Etsy — suffered some embarrassing disaster. (Photo by Hiroko Masuike/The New York Times)