[dstein]

It's merely my cynical conclusion that this VC fund is mouthing a lot of hogwash. Two-thirds of the companies they have funded are exactly the kinds of companies that this manifesto says are the problem. Their essay really doesn't really say what their goals are other than to invest in entrepreneurs "tackling challenging problems" which is what every single VC in Silicon Valleys says, yet all of them are still chasing the next social-mobile-local marketing company.

The entire essay is bullshit.

[todayiamme]

Maybe they just need to balance out their portfolio for short term as well as long term returns? And perhaps they feel that these bubbly companies are the best way to do so?

For some reason this just feels like the fundamental error of attribution to me. Yes, I accept that I might be wrong, but it still does. http://www.paulgraham.com/randomness.html