Why Most Investors Have a 90% Failure Rate

Investors end up knowing just enough to be dangerous. It's a job where you're often selling. You don't actually get the deep insights because you're not like in it building the thing. Just why investors have like a 90% failure, right? Like most investments are bad decisions. I think we see this in practice too, because we will see founders who will pitched investors, get nose, apply to YC, get into YC. And those same investors will say, now I want to invest in your company and nothing has changed. No fundamental thing has changed in that company yet the investor changes their mind. That doesn't sound like the opinion of an expert, right?