> that a prospective $2B investor has access to more information about the company's plans than we do and that their investment is at least some indication that there is a real product in the pipeline.
there is a funnel of investors: say retirement account holders put money into some retirement fund, fund manager put money into some "innovation fund", "innovation fund" put money in VC fund. All middlemen get % cut, VC likely watch slides about some product roadmap, but they more interested in closing the deal, get % cut and move on.
And if those $2B just go poof because they somehow failed to notice what is apparently so obvious to people on his thread -- that there is no real product -- your position is that the VC does not suffer any significant consequences?
there is a funnel of investors: say retirement account holders put money into some retirement fund, fund manager put money into some "innovation fund", "innovation fund" put money in VC fund. All middlemen get % cut, VC likely watch slides about some product roadmap, but they more interested in closing the deal, get % cut and move on.