
Fred Wilson warns about "dumb money" - pg
http://avc.blogs.com/a_vc/2007/03/dumb_money.html
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far33d
This reminds me of all the dumb money that's been pushing the housing market,
pushed by dumb lenders (sub-prime, option ARMs, no-doc loans), etc. I mean
dumb not because homebuyers are stupid, but because the average loan
originator makes their money selling the loan -- not making sure the loan is a
good investment.

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danielha
He can argue that dumb money is feeding venture fratricide and results in
major shakeouts, but you'd have to carefully distinguish between simple "knock
off" companies and worthy competition. Smart money goes into companies that
offer an improvement over an existing ideas.

