When $300M of investment capital ends up in the $125,000 sale of a sock puppet mascot, was he (broadly speaking) wrong? While big companies came out of that er

When $300M of investment capital ends up in the $125,000 sale of a sock puppet mascot, was he (broadly speaking) wrong? While big companies came out of that era, examined at the time and surrounded by since-deceased dotcom peers, I don't fault a reasonable person for concluding as he did.