I think VC funds operate on the basis of greater fool theory. You don’t need a product or a capable team, you just need a shiny yuppie team, an easily marketab

I think VC funds operate on the basis of greater fool theory. You don’t need a product or a capable team, you just need a shiny yuppie team, an easily marketable idea and then keep selling it to greater fools that will invest in Series B / C. I do wonder how much money has been lost by Series B / C investors in this fundamentally broken market but then again mostly likely Series B / C investors are too rich and well connected to be effected by downturns, so it balances out itself.