Many startups simply solve the following problem: Rich person has a massive amount of money, and wants to use some of that to chase risky returns. They don't really know what to do with it, so they become an LP and act as part of a risk sink for crazy ideas. In that way, the pitch decks, logos, landing pages, and breathless hype is, itself, the "problem" in the process of being solved.

The goal isn't solving a problem (for founders) but to get investor money. The VC system is designed to 100x investments.

People who solve problems while being profitable do not take investment money unless they want to expand or sell.

"What is the exit?" that is the question for every startup.