[7Figures2Commas]

> At Bloomberg Beta, we have backed founders who we know have jobs other than the startup we are investing in — and that's fine. So long as we share an understanding of how much time they are devoting, and have transparency into all their other roles so we know there are no conflicts, we think having multiple interests is healthy.

I won't comment on the author's general observations and conclusions, some of which I don't agree with, but this provides yet more evidence that there is currently far more capital chasing too few startups.

Can businesses emerge out of side projects? Absolutely. But a $75 million fund that invests explicitly "for financial return" funding part-time founders, actually believing that it can be certain that no conflicts exist or could develop, and that said founders can accurately predict and commit to specific time allocations?

In my opinion, this shows just how desperate some investors are to develop dealflow.