I've seen this happening over the years but it seems to have come to a fever pitch in the past year or so. Ever more people I run across or who apply for positions have held the title of "Entrepreneur-in-Residence".....better known as EIR's. This has become one of the most loaded terms in the startup world. The majority of the folks don't realise that this is one of the most bullshit titles out there now.
Back in the 90's, EIR's showed up in the Valley. Here's the thing though.....these were really entrepreneurs. Usually EIR's were guys who had already exited at least one if not more startups and were most likely venture-backed. After exiting (and deciding to not spend the rest of their lives on the beach in Fiji) they were looking for something to do. They knew they wanted to start something but didn't have an idea yet. Hence they asked for a desk at one of the funds they had worked with in the past, i.e. one of their investors.
Without having done a study on this I am sure they ended up with the VC whom they felt had added the most value over the course of the investment in the previous business. They also helped that VC out when sitting in his office in terms of screening deal flow. The VC usually found their feedback valuable when making new investment decisions. It was a mutually beneficial relationship which at times lead to said VC investing in the entrepreneurs next endeavour. Some EIR's didn't end up starting new businesses but instead went into portfolio companies of the VC where they were camped out to turn things around. Nevertheless, these were always entrepreneurs who were at the VC's office adding value and/or starting their new thing.
What has the EIR now become? Well it's typically someone who's never started a business before. They don't tend to have sat at a known VC's offices working on their next gig or helping that VC with their portfolio. Typically they are at some kind of unknown incubator or accelerator. Even worse, they are somewhere where the concept of an EIR makes absolutely no sense. One way or another, they are coming from a position of zero or limited experience and are't doing anything that EIR's used to actually do.
I highly recommend avoiding this term on your CV. If you come in to interview, I am going to ask you which business ideas you were working on or what potential investments you were helping VC's review. It's kind of funny that when I ask this question during interviews I more often than not get blank stares. EIR has become completely loaded as a title. In addition to all the other title-bloat out there, I'd basically say avoid this term and just write what you really are doing wherever you were....business development, pitch screening, office management or whatever. We all know that this is the case.