Another fairly common take on this is a preference for technical risk over business risk. For the VCs that are from the "real" technology era, there seems to b

Another fairly common take on this is a preference for technical risk over business risk. For the VCs that are from the "real" technology era, there seems to be a distinct preference for "if you can solve the technical challenges, you'll mint gold" businesses over things like social networking which simply work or do not in a way that cannot be addressed by the addition of technical or business skill. These companies tend to be very expensive and take 3Y or so to be tested on the market, so in a way they are not for people who want to follow the as-quick-as-possible MVP approach, but they also tend to have defensibility which your generic SaaS does not have.