There's smart and then there's perspective. VCs are smart, but they're looking for perspective. They're cold calling you to understand your company and your space and try to possibly invest in you. In fundamental analysis, they call this the scuttlebutt approach. From our personal experience, we've even gotten partners who haven't done their research. The would immediately want to go into the demo during the pitch. When we meet the occasional partner and associate who actually knows the space and the product, we are more than impressed. In reality, if you only vaguely know the space and you're asking retarded questions about engagement and metrics, you're not really adding value. We judge VCs by their questions.