Start-up but not risky business

A post in Mark Evan's blog about Seesmic venture capitalists inspired me to write this. It seems that there is a kind of start-up business ready-to-sell before they start operations.

This is my hypothesis: an enterpreuneur sells his/her company to a huge company. He/she gets the money and the popularity in the environment. Then is time to set up a new business, but never risk the money he/she got from the big-deal. He/she has to get money from venture-capitalists, if possible very popular in the hood. So the point is the first company and have a good idea-product to interest venture-capitalists. If it works, we share profits; if it fails, we share loses, but we never lose.

But my concern is that most of these VC are also web2.0 startup enterpreneurs. They invest in someone else's project. Is that a safe managerial strategy?