[dbish]

Having recently completed fundraising for a pre-seed, it's wild to me that I had VCs spending multiple weeks sometimes on "due diligence" for an idea-stage product, yet there are many examples of just yolo huge investments. It's who you know or what hype is around you in these cases I suppose.

[ignoramous]

You may find this interesting: http://paulgraham.com/herd.html

[thephyber]

A company in pre-seed phase has no history, so some of the other indicators of promise/trust don’t yet exist. It makes more sense for the first investor in a new company to spend some time to investigate the founders and/or the idea or market.

That, however, doesn’t mean that later or faster investment rounds are any more informed.