If you're investing based on a checklist, you've already lost. The biggest opportunities don't fit in boxes. They can't because they're doing something that's never been done before. There IS no box for it yet. Once someone's made money from a box, I don't want that box anymore. I want the new thing. The thing that makes other VCs uncomfortable. The thing that makes them say "interesting, but..." is usually the thing I want to hear more about. That "but" means there's no checklist for it yet. That's exactly where the trillion-dollar businesses live.