There is a cost in research involved each time an investor "stoops for pennies".
In your pizza example, it is possible that the investors have their Fast Food Business formula with their suppliers and management consultants they bring to the table. Someone who made great at-home, with a great personality would add exactly the right "personal touch" and taste to match.
This doesn't mean that stooping for pennies is bad or that VC are necessarily justified in scorning it. I think it avoiding it can be perfectly sensible from their perspective (which should leave others to take advantage of the opportunities they scorn).
In your pizza example, it is possible that the investors have their Fast Food Business formula with their suppliers and management consultants they bring to the table. Someone who made great at-home, with a great personality would add exactly the right "personal touch" and taste to match.
This doesn't mean that stooping for pennies is bad or that VC are necessarily justified in scorning it. I think it avoiding it can be perfectly sensible from their perspective (which should leave others to take advantage of the opportunities they scorn).