Earlier quoted context omitted.
Ok, what about if the opposite was true? How do you handle situations where the idea is (in your opinion) great but the person is perhaps lacking for whatever reason? Is this a situation where you pass or do you take a proverbial punt? Have you done so in the past (don't need to name names to save someone's ego)
We wouldn't fund a group if the founders were really lacking, e.g. if they seemed uncommitted, or not smart enough to build whatever they were planning to.
we now make a conscious effort to pay less
attention to the idea and more to the people
...
We wouldn't fund [people who were] not smart
enough to build whatever they were planning to
These comments don't seem entirely non-contradictory. Wouldn't you ever say "I don't think you're smart enough to make that work, but how about working on a less ambitious problem"?