Putting $10M into uBeam illustrates what is wrong with tech investing (2014)

I don&#x27;t see this as a problem at all. Sometimes these bets pay off, and a thorough tech due diligence is probably not worth their time when they&#x27;re dropping $3M on a seed round.<p>Most importantly, where will those $10M end up? You just distributed back to the economy a bit of money that was parked somewhere. That&#x27;s good on it&#x27;s own.

So not much changed in the last 10 years.<p>I envy the possibility in some parts of the world (mostly Silicon Valley) to sell dreams to investors. I&#x27;m also glad not all parts of the world a that hype driven but still, I got so many ideas and with $10M I could try most of them.

This is still going - <a href="https:&#x2F;&#x2F;en.m.wikipedia.org&#x2F;wiki&#x2F;SonicEnergy" rel="nofollow">https:&#x2F;&#x2F;en.m.wikipedia.org&#x2F;wiki&#x2F;SonicEnergy</a><p>This is about the general stupidity of the IT community, which is HN<p>If there was a group consensus around the obvious facts then these companies would just disappear and in theory we&#x27;d start making more stuff that works.<p>But the stupidity is ingrained in the community, nothing to do with investors.<p>The ultimate irony is things that might work are not pie in the sky enough, which is all the community believes in anymore.<p>Thankfully we still have the Jobs, and Elons and the Gates of the world.

2014 discussion: <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=8542091" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=8542091</a>

(2014)

Oh yeah, and now lets make a vacuum tube with pods in it to transport passengers :-)