this post was submitted on 02 May 2026
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This is an incredibly frustrating part of my work with startups. I do economic assessments for climate tech, and if it doesn't work on paper then you can be damn sure it won't magically start working in the real world. There are millions of reasons a startup might fail and very few that even give a chance for success (big VC success, not just normal profitablity or survival).
In summary I agree it's a massive lottery, but it drives me crazy how much investment goes to lottery tickets that don't even have a legitimate chance of success.
It’s almost as if investors themselves often aren’t that smart and they, themselves, won the lottery that gave them money to invest.
Yeah it is insane how many of them have no higher education, or conversely simply got a PhD and have never worked in industry before