"Tim Streater" wrote in message
.. .
In article , tim...
wrote:


He predated the hunger for VCs to throw money at every tech idea that
crossed their desk in the hope that one of them would go mega (to be fair
some did) making it possible for "clever" inventors to game the system.
Of course, most Start up failures were down to bad choices rather then bad
faith actors.

AIUI, VCs are smarter than that.

Not when evaluating the tech, they aren't.

90% of the time they evaluate the person, and the sort of person who can
sell the real deal is often exactly the same sort of person who can sell a
dud. Obviously many of potential techies aren't that cynical, but some are.

People don't appear to appreciate that
the "tech idea" is only 1% of the problem. Getting it through
development to a saleable product is a major part, as is gearing up for
manufacturing, sales, marketing, finance, and management.

most of my experience is in software "products (that's experience in
watching other people's schemes)

so there is no manufacturing and the sales channel is a lot easier.
Obviously the marketing is just as difficult.

Some years ago I was told by a VC in California that it's usually
managers they are short of.

Techies who can manage, yeah.

that's why it's just so easy for someone who can, to pitch the dud product

tim