Can anyone explain why on earth VC's are making actual investment decisions based on
imaginary internet points? This would be like an NFL team drafting a quarterback based on how many instagram followers they have rather than a relevant metric like pass completion, or god forbid, doing some work and actually scouting candidates. Maybe the Cleveland Browns would do that[0], but it's not a way to mount a serious Super Bowl campaign[1].
Are VC's just that lazy about making investment decisions? Is this yet another side-effect of ZIRP[2] and too much money chasing a return? Is nobody looking too hard in the hope of catching the next rocket to the moon?
From the outside, investing based on GitHub stars seems insane. Like, this can't be a serious way of investing money. If you told me you were going to invest my money based on GitHub stars, I'd laugh, and then we'd have an awkward silence while I realize there isn't a punchline coming.
[0] I'm from Cleveland. I get to pick on them.
[1] https://en.wikipedia.org/wiki/List_of_Cleveland_Browns_seaso... I think their record speaks for itself.
[2] https://en.wikipedia.org/wiki/Zero_interest-rate_policy
Are VC's just that lazy about making investment decisions? Is this yet another side-effect of ZIRP[2] and too much money chasing a return? Is nobody looking too hard in the hope of catching the next rocket to the moon?
From the outside, investing based on GitHub stars seems insane. Like, this can't be a serious way of investing money. If you told me you were going to invest my money based on GitHub stars, I'd laugh, and then we'd have an awkward silence while I realize there isn't a punchline coming.
[0] I'm from Cleveland. I get to pick on them.
[1] https://en.wikipedia.org/wiki/List_of_Cleveland_Browns_seaso... I think their record speaks for itself.
[2] https://en.wikipedia.org/wiki/Zero_interest-rate_policy