You’d be surprised how much vibe is there in VC investing.

When one is under the grip of irrational exuberance and FOMO due diligence goes out the window.

For example look at Sequoia’s investment into FTX and article about Sam that accompanied.

True, but this is not what might be considered an unexamined company. You can be sure it's under all its investors' microscopes.

If for no other reason than they would rather spend their days procrastinating on everything else, so they can obsess over some of the most interesting numbers they will ever see.

Well if you've got billions of dollars just sitting around doing nothing, and many many more billions of dollars that are performing wonderfully, you should be able to afford throwing a few billion away if that's what ends up happening.