[staunch]

Why not base it on the actual product and skills/experience of the founders, like they claim they do?

Palmer Luckey would have trouble getting funded with his VR headset in his hands, based on his background. VCs would sooner fund anyone that went to the same school they did.

[crush-n-spread]

The thing is that you can sell a good product without VC money, even it's a high-capital product.