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 • yesterday at 9:40 AM
Yeah, OK. There’s a lot hidden in that word, “pedigree”.
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imp0cat • yesterday at 8:46 AM
So it will be exactly like git, but with a monthly subscription fee.
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yread • yesterday at 9:20 AM
or at least should be
abc123abc123 • yesterday 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.