It's a given that most startups will fail, and that all it takes is a few smart (lucky?) investments for a VC to make it all worthwhile. Dave McClure's 500 Startups, as the name makes obvious, takes this to the logical extreme, with a throw moneyshit against the wall and see what sticks approach. Now they've got millions more to throw.

Do you wish you could live the Silicon Valley VC lifestyle? The glamor? The apps? The yacht racing and indifference to humanity? Thanks to recent legislative changes, you can't actually have money to invest, but it's effortless to fake it—and maybe even scam people!

Union Square Ventures chief Fred Wilson has some big notches on his bedpost: Tumblr, Twitter, and Zynga (cough). But if you look at USV's portfolio page, you'll see a lot of chaff. Bad ideas that will probably go nowhere. This is the case with most VC firms. But unlike most investors, Wilson actually tries to chase down laughable ideas. Suddenly it all makes sense.