The VC model is also pretty stupid or at least not worth trusting that they did due diligence. They pretty much just threw money at everything that moves in S

The VC model is also pretty stupid or at least not worth trusting that they did due diligence. They pretty much just threw money at everything that moves in SV and hope they become real companies. Their months of background research? "He graduated from an ivy league school and is rich, he must trustworthy"