Sure, but that doesn't really change anything. The poster plainly states:
> Money is not given to good ideas (though, it doesn’t hurt). Money is given to friends.
I have an obvious counter example. I'm sure money is invested for all sorts of reasons to all sorts of people. I'm also sure that money is not exclusively invested based on friendships, and I'm quite sure that money is at times invested based on the merits of an idea. Obviously those merits have to correspond to the ability to form the basis of a successful company, unless it's a philanthropic investment.
What I meant is that yes, good ideas will get funding, if they like you and if you are a good ROI (though, not all are required). This also may allow you to enter the clique/network. However, a lot of this money circulates between the same network. Convincing the right person of the value of your idea can enable you to join the network and access that money at a much, much lower threshold later on.
Obviously, it is not that cut and dry, but it is kind of impressive how much of the money circulating around is between the same people. I’m not really condemning it. I think it is a natural consequence because humans trust other humans they know. People should be more aware of it and need to make sure they keep it in check. Otherwise, you eventually start getting high on your own supply.