"Spray and Pray"

I read an interesting article regarding the opinion of some tech guys out of the US. Well, some pretty substantial tech guys actually- Sean Parker, from the early Facebook days, and his partner Jim Breyer. The gist of the article is how early stage VC funding is really based around funding anything and everything tech related- “spray and pray” investing. What is really interesting is how this type of funding mentality bleeds the top talent, spreading it out thinly across many start-ups.
What I take away from this interview is that imitating what an industry is doing is not always the right thing to do, and may in fact create a false sense of economic “upswing.” It also creates a generation of people that potentially believe that if they have a good idea, they should get money to make the idea real without understanding what it takes to create, develop, and productize, or provide the desired value. I am seeing a movement away from business fundamentals.
Take for instance the realization of an idea.
How is the idea translated into something that can be sold? Is there a market? What does the market look like? For every dollar that I put into the idea, what can I expect in return? Is it sustainable? Can it evolve? What does the product lifecycle look like? What do I need operationally to support the idea? The list goes on.
If we lose sight of these business fundamentals, how does this affect the economy? We saw this in the early days of the internet, where anyone could create a website and have a presence. The ones that survived understood what it took to create a product, market the product, and provide sustainable interest in their goods and services.
This isn’t meant to be a criticism, just a warning. When talent is spread thin and money is thick, is there really an incentive to build a sustainable business? Don’t mistake my sentiment- building, growing, and managing through all this isn’t easy. However, building a strong company that provides real value is where my stake is staying.