I think the problem lies when these later stage VC firms pitch themselves as the "early stage/seed fund" to founders selling the dream that they will be the fir

I think the problem lies when these later stage VC firms pitch themselves as the "early stage/seed fund" to founders selling the dream that they will be the first money in. I've met a few partners at those above larger firms who said exactly this and taking the time to meet with entrepreneurs who are just at the idea stage/first product and taking advantage of the situation.