The VCs of course need to maintain return but they are under some pressure to push money out the door and invest, as their fee is a percentage of funds invested

The VCs of course need to maintain return but they are under some pressure to push money out the door and invest, as their fee is a percentage of funds invested. There are many funds structured in a way where it's better for the fund (not necessarily for the investor) to invest 2x in questionable companies, than just 1x in great companies, lest they lose fees on the remainder.