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> I feel like these founders just want to start something... anything...

Wantrepreneurship... I've been there too. Taking some time off is definitely the best cure but $1.8M in the bank is very tempting to keep diving into anything as long as you can keep deluding yourself you're working on the next big thing.

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I don't understand why the investors would not take the $1.8M back once the idea they invested in was shut down.

I guess they value the founder more than the money? Their lottery ticket already failed, this is a pure free bonus round.

You know that standard VC advertising line "we invest in the team"? It's not always bullshit.

And if you've already seen the team in action and like how they make decisions you're better off effectively giving a known quantity a new $1.8M investment (with zero transaction cost) than taking a flyer on not only a new business idea but a new team as well.

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