It's because VCs would rather their investments would take risks then not. With risks, at least there is a chance you will accomplish great things (and there is

It's because VCs would rather their investments would take risks then not. With risks, at least there is a chance you will accomplish great things (and there is only a chance you will get caught if your risk wasn't fully above the board). But if you don't take risks, there is no chance of accomplishing great things. I think boards should be held responsible for encouraging these kinds of risks, but let's be honest - by focusing VC returns on maximizing investment outcomes, the system is set up this way.