An investor invests in the jockey and not the horse. Consider an investor like the saddle. If the saddle sucks, the horse and the jockey’s groin will be sore.
This metaphor hurts my head. A saddle invests in a jockey?
I think the idea is that the investor is there to support a talented jockey (entrepreneur) against the turbulence of the horse (new business). Maybe this horse got outraced by another horse/jockey, but if the investor should have faith that the jockey can pick up the saddle and learn how to ride a new horse.
Agreed, not the best analogy... especially because as I understand a lot more is invested in horses than jockeys (in actual competitive horse racing). But, I think that's the point.
This metaphor hurts my head. A saddle invests in a jockey?