Investing Based On FOMO

"-It reminds me a lot, right now it kind of feels that way a little, it's like people are riding the heat. I remember we had a company, and listen, I'm not being mean, but we had a company that came in the door and it was a music website, and it was started by a rockstar. A famous rockstar in Latin America, who I shall not name. And he'd never done anything in the business world in his life. And his claim to fame was that he invented internet time, whatever that is. And so he would give his pitch, he'd be like, my name is XYZ. Probably can Google this, and he's like, I invented internet time, I'm an apple master, I have this idea for a business. And he put together a round of financing and there was no business model ever. And I just remember we were just like, what? This feels crazy. Do you know what I mean? And I remember we go to our Monday morning meeting, we had so many memos. And we invested in, I don't know if you remember cosmo.com? "