I 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/

I 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.