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This kind of begs the question, though: "Then why shouldn't we fire you and hire someone who is qualified?" Of course, the purpose of VC isn't to fund innovati
by invalidOrTaken 7y ago
This kind of begs the question, though: "Then why shouldn't we fire you and hire someone who is qualified?"
Of course, the purpose of VC isn't to fund innovation so much as make money for the LP's, so this really speaks to "What marketing pitches work on LP's?" But at some point they'll get tired of funding Uber vs. Lyft wars and look for a way out of Hobbesian struggle.
- spamizbad 7y agoI think you answered your question! And it's probably a lot easier to convince an LP to open their purse for the next Uber/Lyft than the next Applied Materials/Lam Research. Theranos is an example of the dangers of investors that lack the expertise necessary to evaluate "hard problem" startups.