"Sometimes they ask her if she wants to put money into their companies."

- IMO a founder shouldn't ask friends this. If your friends believe in you, they'll go out of their way to ask & invest.

"The fact that they are my friend means there’s something cool and interesting about this person"

- No, not all friends are bc of tech/career. Even with many friends in tech, the % I'd invest in is low.

"Investing in my friends is super cool,” she says. “I get to support them"

- Totally agree. Supporting friends who you believe in is fulfilling and an end in itself.

"To me it’s very similar to Instagram. You follow each other. The only difference is it costs $10,000 to follow someone, and to create a profile you have to start a company. This money-friendship overlap reinforces the clubby nature of a lot of aspects of the Valley"

- Mmm. No. You're likely keeping up with them anyway bc they're smart, driven, inspiring to be around. - "Clubby?" - founders are rare. Also, as an investor you enjoy the same hobby - business. It's not as elitist / exclusionary as that comment makes it out to be.