America's investors are the most efficient allocators of capital the world has ever seen, backing great ideas to the hilt, and weeding out the losers. That's the theory. The practice, unfortunately, is different. Pay Per Post, one of the sleaziest ideas in web marketing, has raised another round. Ted Murphy's venture, which pays impoverished bloggers to pitch products from marketers such as HP, plans to announce, tomorrow, $7m in new funding from Tim Draper's DFJ and others. It's consoling to know that some of Draper's money will go to single moms like Robin Nykaza; but nauseating that they'll have to humiliate themselves for the cash. America's ruthlessly efficient capital markets, which will eventually starve an idea as creepy as Pay Per Post, are certainly taking their time.