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.

> They always say that what matters most to them is the founders. How can they learn to know people in 10 minutes?

This is not (necessarily) a contradiction: they are interested in founders who can easily be marketed. ;-)

What they tell you and what the reality truly is, are very different things. Venture capital is a hustle, and once you learn how to dance the hustle you can find a partner.

These kind of comments irritate me so much.

They would invest in mass produced bottled Himalayan air if they thought it would turn a quick buck.