Subject: Re: shooting holes in the sky
From: Tom Lord <>
Date: Tue, 9 Oct 2001 14:42:02 -0700 (PDT)

       VC want to see a placement into an established market, with
       well-defined costs and benefits.  

Right.  VCs are, at a very high level, doing tactical engineering but
have little or no strategic component to their investments.

Then they (or rather their customers) get surprised when they
collectively overfund a new market that hits the rumour mill and a lot
of shirts are lost.

Then they get surprised again when they can't think of what markets
to go after next.

Someone needs to say to them "Don't act so surpised."