This comes down to VC firms saving face. Early investors look less foolish with each additional round. If you were one of the VC firms in Round A ($50M), Roun

This comes down to VC firms saving face. Early investors look less foolish with each additional round. If you were one of the VC firms in Round A ($50M), Round B ($542M), or Round C ($793M) would you come out and say, "Yeah, we were hoodwinked." and invite professional blowback? Or would you help Magic Leap with their next round of investment, until so many big names were on board that nobody could blame you for jumping in?