Technology
Technology is not a zero to one problem, if only because that first proof of life ≠ job done. Innovation is neither black nor white, but rather endless grey. There is ambiguity, uncertainty and innumerable factors outside of one's own control. Filled with nuance - like art - it requires judgment. That said, there is a hierarchy of value and an implicit Goldilocks problem. Services scale. Products deliver customer value. Meanwhile novel, pure invention protected through IP (absent commercialization) doesn't buy more than the right to be sued . "Just right" defines investable. Venture has historically funded software, fabless semiconductor and other high margin & low CapEx approaches. Sure, a few folks do hard tech these days; billionaires fund moonshots . Any four letter word can buy Chinese scooters, build an app, and either sellout to an auto OEM for $100s of millions or achieve $1-2 billion private va...