It's been clear from the first article about Color that the investment was not about a photo sharing application, but about the underlying technology. The recent information that they are applying for six patents supports this.
You're drawing conclusions outside of my argument. Please re-read what I wrote.
She said I just don't happen to find photo sharing to be a big problem requiring $41M to solve at the moment. And my comment regarding the patents was based on the $41M investment being in their technology, not a photo sharing app.
I made no other comment on the validity of the patents. I believe the investors based their investment on the underlying technology used to create the app and not the app itself. They valued the technology and the team that created it worthy of a $41M investment.