alt Hacker News> Money is given to friends.
Money is given to ideas that might become billion dollar businesses and teams that look like they can do it. Pedigree, domain expertise, previous exits.
Replies
UqWBcuFx6NV4r • today at 9:40 AM
Yeah, OK. There’s a lot hidden in that word, “pedigree”.
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imp0cat • today at 8:46 AM
So it will be exactly like git, but with a monthly subscription fee.
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yread • today at 9:20 AM
or at least should be
abc123abc123 • today at 9:04 AM
This is the way!
That works under the assumption of the "wisdom of the markets", and we assume VC possesses that wisdom, but laid bare it's just as vulnerable to cronyism as any other institution.