So let me see…. some genius (smart & stable, of course) at Softbank is going to have to explain how a multi-hundred-million dollar investment is, perhaps one day, going to result in an ultra-low margin packaging business in which competition from large players will be intense. This truly sounds like a must-have investment opportunity! VCs are really smart and really do their research before investing.

Seriously: robot pizza making was a fundable project? How detached from reality does one have to be in order to become a VC these days? Is the ideal profile a 7-year-old boy who watches sci-fi cartoons? Does no one at all do any due diligence any more? One must presume that the Curse of Musk (talk up a stupid idea, raise billions) has permeated far too many funds with FOMO. Because no one would want to miss out on spectacularly stupid ideas in a world in which, if you are lucky with the timing, there’s always a larger group of idiots willing to buy the shares in an IPO.

Doesn’t sound like dot-com crash 2.0 at all. No sir…