I love this post and will read the book; yet, it addresses the wrong ppl. ‘Crazy inventors’ have always been there, but they were relegated at the margin of the society: today instead they are incensed with million of dollars. The problem, hence, is the money that VC throw at any idea that passes under their noses (having now collaborated with a large startup accelerator for two years convinced me that the myth of the ‘hard selection and due diligence’ by VCs is just that, a myth, given the sheer number of such investor firms…). And they do so not because they are crazy, but because of their business model which is: find the unicorn that repays for all your blunders and Lamborghinis. So they throw money at 99 shitty startups (and their improbably CEOs) that will never succeed waiting for that one company that would make them billion(s). Think about this model… It is as if GM designed 99 shitty cars, waiting for that one.. (wait, bad example, maybe they are just doing that). It is as if Apple produced endless crap, but for one iPhone model that would repay all the money they wasted.

So I think that among the many reflections ppl at SV should have, there is a big one on the model of VC that produce a terrible allocation of scarce resources (yes, right, money is not SO scarce nowadays, but this is how economists call ‘money’).

Let’s write on THAT, Jessica — it would be fun!