Look at: 

1. Market

2. People(team)

  -- Are you in a promising market (like a land to builld a house on)?

  -- Do you have a good team of people (are they trustworthy)?

About Market:

1. Pain

2. Pleasure

  -- What pain are you trying to kill for people?

  -- What pleasure are you trying to bring to peple?

Mentality in VC:

-- New Money:  Not just existing money.

-- Risk:  It is part of creating new things that have never existed!

From Monte Jade Seminar on May/30/2020