I imagine the problem with the anti-valley fund is similar to the prisoners dillema- it takes more than one firm to see a startup through all of its funding, an

I imagine the problem with the anti-valley fund is similar to the prisoners dillema- it takes more than one firm to see a startup through all of its funding, and if no one else bites you'll be left with an underfunded startup. It's probably why the pedigree rule is still in place- it's not rational in a vacuum, but it's a known bias of other firms, and so it makes sense for you to act in that bias as well.