That said, investors are probably still right to throw money at experienced entrepreneurs. Airtime probably has lots of money left for a pivot, so best of luck to them.
You could take your $30m, throw it at 30 different teams and pray for an instagram. But then you'd have to sit on 30 boards and keep up with 30 companies. Making one large investment is not only easier to manage, but also much more likely to succeed when it's a known executor.
Especially on Airtime there is no purpose. This would maybe make sense in a clear dating context, but a rejection would hurt much more this way - not fun to do. So why should somebody put effort in talking with some stranger about something?
Is the valley truly this out of touch with "the real world"? No amount of millions of dollars or celebrity endorsements or Sean Parker is going to get real people to live video chat with each just for the hell of it.
It's a solution looking for a problem.
