Yes after obtaining my Series 7 and 3 license i went on to work for several wallstreet firms over the years. During a brief time of about 6 months i worked for a venture capital firm. I did not like working for them at all just entirely different structure. However i can put you in the mindset of how we use to think.
So you're right about price being a lousy indicator of a project. Price at most stages vc firms want to get in on has almost like zero to do with price. In fact they sometimes prefer no price at all as in intial stages. Price also works the opposite way in that especially in a small pool a project can almost become too big to fail. That doesn't necessarily equal advancement but it is possible that enough money can kick a can down the road a long time.
So specifically as you say a vc firm can wait in some cases almost a decade to make a profit. They do have fiduicary responsibility to clients similar to many businesses in management of customer funds unless they are fully funded inhouse outfits in which case they maybe have a bit more leighway to pick good projects. I think the numbers may be worse than 1 out of 10 successful businesses but as you said you can have 1 business out of 100 hit big and still do very well.
It's multiplied far worse in crypto by a a factor of 12. So what i mean is you have this super high unregulated price activity in cryptocurrency no circuit breakers nothing lol. So these guys can make a fortune on speculation and price alone. So what has been happening like you take polkadot for example $150 million thrown at them off the bat. Then we had eos with several billion dollars. So highly speculative markets. Developers get rich instantly sometimes before they build the first product or system. So this can go on for years and there needs not be any significant advancement in the product. Many things don't have to work as well. The investor intially isn't having many problems because speculation has driven his investment value up. However in some cases the advancement of the project itself hasn't really done anything. The devs are paid upfront everyone is making money until they aren't.
Especially in cryptocurrency price doesn't necessarily mean anything about your product as far as people will use it, it will grow, it will solve a problem or a market need. None of this has to be the case in price. It is going to be a problem later. So my honest opinion about steem-hive. I like it i know alot of people on the site do and they think very positive about it. When i was back at the venture capital firm for those grueling 6 months and i'll never go back, lol.
I would have told you all something like i'm about to tell you now. That is steem-hive is probably at the non investment stage at this point.They would have significant positions by now. The structure would have already began to change in my opinion. It's not that venture capital firms aren't aware of steem-hive. It doesn't work that way. It's not like cryptocurrency where we kinda tend to think oh its no marketing its no way to know about us and only if someone did". No vc's jobs are to know everything about everything. I mean they are actually out looking hard for you. So we generally go oh if only they knew about us they'd leave facebook and why don't they get off twitter and don't they know the value of this and they can earn money etc.,
Thats the thing human beings don't function in a logical sense that way. We're unpredictable we're chaotic. Things don't have to make sense to human beings lol. So homework has been done about dpos and for the most part if there was ever a round of funds i dont think there will be anymore.
That said that doesn't mean a project can't emerge on steem-hive and create a market demand. That is possible i feel the longer it goes teh more unlikely but its possible. I'd also say that my professional opinion would have been when Stinc was around and during the boom of 2017 pushing close to a billion valuation as such. There are advantages of being a company on a blockchain. You can sign contracts and create a central direction that in some cases may be needed depending on what type of business you're running in some cases social media works better that way to an extent. They could have used the value they had to acquire other businesses and make profitable investments under their umbrella... like many have done.
Price is a psychological projection of peoples hopes and fears. If price really meant something. Think about products like apple you would just have went and bought as much apple stock as as you could or tesla becaused you'd know how valuable it was. Price at certain stages never indicated to you how valuable it was although the value of the apple legacy and brand was always going to be that valuable.
So those are my thoughts on that. I will say i'm proud to see that the biggest of Vc's people like Tim Draper who has invested some reports like over half his billion dollar fortune in cryptocurrency. Is now interested in ideas like bitcoin ubi. and ubi projects. My belief is Tim Draper knows this economy is in alot of trouble over the next decade. I think he knows that the landscape of this economy will change dramatically and there will be completely different systems than what we've seen..So he's listening to ideas like that now.
https://www.youtube.com/watch?v=aWPNZoeroVo&t=175s
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