For the most effective pitch, focus 80% on the problem, 20% on the solution.

The last 10 to 20 years you’d think that it has been all about VCs making money, because that’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?

Entrepreneurs usually don't listen to people. Trust them to do their job. Remember, you invested with the understanding the project was likely to fail.

I figured maybe I had some talent as an investor… since it seemed like I was only a half-assed entrepreneur.

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.

For the most effective pitch, focus 80% on the problem, 20% on the solution.

I think you want to show a level of transparency that breeds trust. You don't want to show a level of desperation that breeds concern.