There are an awful lot of small software companies which didn't need much more than "capable of writing software" and "at least as much sales skill as a clerk at Nordstrom's" to get started. Many of them don't sound like particularly "good ideas."
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You're saying that inverted scenario is typical or at least unsurprising for deals outside of Silicon Valley-type venture capital? Even somehow getting 50-80% ownership on a investment that should only be 2% of diluted value per basic math?
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Saying that people routinely get offered, and sometimes take, $100k at an implicit pre-money valuation between $25k and $100k (often obscured by “partnership”).
End of conversation
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