muting this one, but: 1) there are more quality dollars than there are quality companies. The odds of you seeing something strong randomly (i.e. without a relationship with the founder) is exceedingly low 2) early stage prices are high across the board
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picking winners is hard
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No it’s not. The data on it is skewed
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Say more, skewed in what way?
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Absolutely!
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Why is their resistance to admitting this? Is it seen as less prestigious if it's a bad financial decision but instead a "activity that keeps me connected with interesting people" decision?
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I personally see it as investing in a business that: I understand, see growing, want to be involved in the workings of as a strategic partner BUT I don't have the time or capital to see it through alone. The network it brings is a by-product and bonus imo. Thoughts?
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