I can't believe this. Really. Meteor is a bunch of open source projects glued together with some of their own libraries. Their package system which is out of npm is completely arbitrary.
Why not funding other good projects? There's plenty of better framework/libraries that are massively used by the community.
I'm, myself, leading a little node.js framework open source project with similar concepts and I'd never accept to be funded. This isn't a project, there's no revenue opportunities there, it's a tool!
Tools help to develop projects which then make a revenue...
I really don't understand the negativity. They have an awesome team that's built an awesome product. No, it's not finished (hence the money to hire more engineers) and yes, there are competitors (competition proves market need).
I don't know much about how VCs structure their portfolios, but recognizing a need in the market and betting on a badass team seems like a pretty solid strategy to me.
As for me, I'm happy for them. I hope they succeed. I hope them and their investors make a ton of money and it encourages other teams to build more awesome products.
Why not funding other good projects? There's plenty of better framework/libraries that are massively used by the community.
I'm, myself, leading a little node.js framework open source project with similar concepts and I'd never accept to be funded. This isn't a project, there's no revenue opportunities there, it's a tool!
Tools help to develop projects which then make a revenue...
Some investors have very poor judgement.