This is exactly how many VC work. They will only fund projects that involve people they know. Those people are almost always ones who have a history of past success. It's simply a way to manage risk with minimised effort.
Deal with people you already know.
If the project turns out to be a dud, the past history of success of the people involved negates any arguments that it was not the right decision to fund it. No one is going to question that the people involved were not "winners". They had proven that already; that's why the project received funding: because those particular people were involved with it.
To use an oft regurgitated title: "No one ever got fired for funding a project that involved [insert so-called born winner name here]"
Just for fun: How about Andrew Mason, the guy behind Groupon. How far do you think he would have gotten by taking the YC route? Is he a "born winner"? Groupon made some investors very happy.
One might wonder why no one can tell us who the "born winners" are until after they've had some "victories".
Deal with people you already know.
If the project turns out to be a dud, the past history of success of the people involved negates any arguments that it was not the right decision to fund it. No one is going to question that the people involved were not "winners". They had proven that already; that's why the project received funding: because those particular people were involved with it.
To use an oft regurgitated title: "No one ever got fired for funding a project that involved [insert so-called born winner name here]"
Just for fun: How about Andrew Mason, the guy behind Groupon. How far do you think he would have gotten by taking the YC route? Is he a "born winner"? Groupon made some investors very happy.
One might wonder why no one can tell us who the "born winners" are until after they've had some "victories".