This is why his point about judgment is right on. The challenge is not having good ideas but knowing which of your ideas are good. When Paul Graham says that

This is why his point about judgment is right on. The challenge is not having good ideas but knowing which of your ideas are good. When Paul Graham says that all that what they care about is having good people, there's an underlying assumption that good people won't pursue lousy ideas. Ideas can't be sold, but judgment of what is a good idea can be profitable -- that's one of the things that venture capitalists do.