Interesting viewpoint from Bischke: "startups doing something genuinely different just because there is no one paying them just to be another Uber for teddy bea

Interesting viewpoint from Bischke: "startups doing something genuinely different just because there is no one paying them just to be another Uber for teddy bears". This betrays a lack of trust that VCs are able to judge the value of a company. That they really only invest in companies because others invest in them. Or that they invest in something they are very familiar with and are unable to recognize technological disruption. I've a startup so I've never been on the other side of the table, but I can't imagine that there is not also a survival of the fittest on the VC side. Perhaps being very early in a company doesn't pay off in an extraordinary fashion? How would the system not be autocorrecting for VC failure?