I don't think that in general the practice is something over which the VC industry should feel guilty. Venture Capital has historically and continues to fund industries where patents are appropriate, e.g. semiconductors.
Software patents are problematic, but only because of the general features of the patent process and the fiduciary responsibilities of boards of directors to their shareholders.
Not nearly good enough as an answer. I've watched dozens of investors pressure founders about patents. Usually it's in the guise of the valuation of a company - what intellectual property am I investing in? - and the idea of defending himself later is used as a rationalization.
It doesn't matter at all whether Fred's firm does this. Union Square Ventures isn't suing Facebook either, that's another behavior they're not engaging in. They're also not actually coding software.
What matters is that Fred wrote a seething post about the patent system without mentioning how many if not most bogus patents get created in the first place - at the urging of the other guys on his side of the table.
If you're letting them spend your money on filing patents without any kind of binding commitment to use them only in defense, and there's plenty of evidence at USPTO that your portfolio companies are still doing just that, then you're not clearly any different than any other VC in that regard.
This madness will not stop until there's more retaliatory capability than first-strike, and that won't happen as long as there's money pouring into the acquisition of first-strike weapons. Those who fund the stockpiling are culpable, no matter what they say as they're doing it.
