I'd love to be a venture capitalist. Too bad it takes millions these days. Anyone have an idea that I can laugh at for $10,000?
The problem is, this sort of ignorance and misunderstanding is often how we get true disruption - people are so ignorant that they don't know something can't be done and won't work, so they go and do it, and it works. Dropbox and Paypal are particularly good examples of this, while Bessemer's 'anti-portfolio' is a fun look at the sensible reasons why some amazing companies would never work. The challenge of venture investing is that the model depends on investing in things that are laughable, because those are the only things that can make billions of dollars from zero in a few years. So you kind of want people to laugh at you and think you don’t understand the sector. You just have to be sure that you understand why they’re laughing.