The tech culture of investing gigantic sums of money in a handful of hyped up projects is sick IMO. Especially when these investors already know perfectly well that only 1 out of 10 startup makes it and that it's almost impossible to predict which ones will succeed. Even Y Combinator, which is top of the top, doesn't have that high success rate in terms of number of companies.
Instead of giving this one company $2.6 billion, the investors could have invested $100k in 26k different startups. They could have literally scrolled through the list of the top 26k open source projects on GitHub and invested 100K in each of their teams to come up with any kind of business related to their expertise.
Their success rate is bound to have been better. This money was just wasted. Investors are just too lazy to interact with so many companies. Too fat and lazy to make an impact.
Instead of giving this one company $2.6 billion, the investors could have invested $100k in 26k different startups. They could have literally scrolled through the list of the top 26k open source projects on GitHub and invested 100K in each of their teams to come up with any kind of business related to their expertise.
Their success rate is bound to have been better. This money was just wasted. Investors are just too lazy to interact with so many companies. Too fat and lazy to make an impact.