Why Do So Many Investors Spray and Pray?

Why do so many investors spray and pray instead of focussing on just five to seven companies in each fund, like you to ounders fund? And a second part of the question, do you aven any rules that you follow or tips? For those who want to invest in early stage ventures more intelligently, i think people would say that they spray and pray because of some sort of portfolio theory. I don't actually believe that to be true. The real reason people spray and prey in theire investing is that they are lacking in any conviction,. Perhaps because they're too lazy to really spend the time to try to figure out what companies are ultimately going to work.

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