I guess a three classification model is a Habermasian step up from the usual two. But reading your story makes me think about a couple of issues.

The first is that as soon as you classify a startup you start to treat it in the way that will ensure it becomes the label. The research on Pandora effects is clear in many settings from HR to marketing, as well as investement. So as sooon as you have classified, the Homeruns will get attention and- maybe innovation, while the loss makers will, well, make losses.

The second is that clustering should reduce risk, but can you keep your groups separate? Again, contagion can mean that neutrals, will play it safe because these are the signals they receive from their board- a board- if i may say so, many of themr are not equipped to handle.

And given the race to the bottom in VC capital mentioned elsewhere on Medium, if you are pushed into making investments in startups that are perceived as “having a tailwind” in blockchain or AI or some such codeword laden environments, how many homeruns can you expect?