Every VC firm claims to have a specific focus, but most of the time it’s so broad that it becomes useless.

Most firms would say: we focus on internet, mobile, consumer and enterprise. Well thanks.

The reality is that most firms will invest in anything that has the chance of scaling to a multi-billion dollar valuation, from coffee and liquid meals to spaceships and Facebook.

That’s totally fine, and a great diversification approach. There are just a number of companies that will go public or get acquired for $1b+ every year, and they’re in different verticals. Sprinkling bets around gives you more chances to actually be in one of those.

Some firms think otherwise though.