>I'd rather this entire space be ignored than see top-tier VCs sour everyone on the industry.
Agreed. However, if they don't know how to do DD a better one option would be just to fund more companies at a lower level. With a more realistic valuation that reflects the risk involved. However I don't think they like spreading their cash out like that.
Overall, it seems like there's probably not enough seed level funding for science/basic tech startups.
I'm with you on that, but I don't know if it's a question of enough/not enough seed-level funding.
I worry that there's an ever-increasing attempt being made to substitute in credentials for careful evaluation of actual ideas. I understand why relying heavily on pedigree is so attractive, but I wonder if startup failure rates would decrease and startups' overall quality would increase if that metric shifted.
Agreed. However, if they don't know how to do DD a better one option would be just to fund more companies at a lower level. With a more realistic valuation that reflects the risk involved. However I don't think they like spreading their cash out like that.
Overall, it seems like there's probably not enough seed level funding for science/basic tech startups.