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Isn’t that Thiel’s point in his Venn diagram of startups? Might have something to do w “ideas that seem bad” to know-it-alls being/seeming better investments, hence more capital.pic.twitter.com/FkvSIBzXUj
I'm not talking about ideas that merely seem unpromising, but ones that provoke a certain kind of person to actively ridicule them. Perhaps because they seem both unpromising and also presumptuous.
They're usually right, though. You remember the ones that are successful; the vast majority are stupid, & obvs so, & fail. & the irrantional feeding-frenzy often drives stupid ideas to the appearance of success, meanwhile depressing the value of actually-good ideas.
There's actually a good heuristic to be gleaned here from running this process in reverse: Any supposedly qualified expert with a bad record of dunking on presumptuous-but-proven-to-work ideas is probably more valued by the system for their gatekeeping role than their ideas.
As a mentor I always quote the Pope. "Who am I to judge?"
Couldn't you then create a successful VC fund by rounding up those persons and investing in everything they ridicule?
No, see @ganeumann’s neat reply there. Haters gonna hate.
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