However, the author seems to be most focused on how invested money gets out of the pipeline once it's in. The two problems are related. Money isn't being pulle

However, the author seems to be most focused on how invested money gets out of the pipeline once it's in. The two problems are related. Money isn't being pulled out of the pipeline because investors are willing to let venture funds hold onto their cash for long periods of time. If investors had other opportunities for getting returns, they'd pressure venture funds to have shorter time horizons, and this, in turn, would lead venture funds to pressure companies to cash out or die.