Wait until companies have an initial prototype, have shown that they have the potential to be profitable and have the ability to scale. That's the best time to invest.
The last 10 to 20 years youвЂ™d think that it has been all about VCs making money, because thatвЂ™s all we hear about. But really it is all about VCs failing and failing to return capital and being f**king idiots. VCs are stupid. They are absolutely stupid. Does anyone want to challenge that statement? Does anyone think that VCs are not stupid?