sorry, i thought it was clear. vc largely trades in the story. because for the longest time they could cash out on the promise of a thing rather than concrete

sorry, i thought it was clear. vc largely trades in the story. because for the longest time they could cash out on the promise of a thing rather than concrete earnings or anything remotely objective. the silicon valley vc culture has been such a dependable shower of money, with a few minor blips, that its quite believable that some random people, with no particular idea in mind would wander by hoping to get wet. so if a vc, in fact many vcs, invest very heavily in a story ,largely based on each others faith, and that turns out to be a company run by narcissistic idiots with no real long term economic value, we shouldn't be surprised.