Right, that's the part I'm a bit confused by. If I'm understanding you right, it sounds like VCs choose to not require fiduciary-style obligations of the found

Right, that's the part I'm a bit confused by. If I'm understanding you right, it sounds like VCs choose to not require fiduciary-style obligations of the founders? e.g. whatever the contract looks like, I'm a bit surprised it wouldn't have a term along the lines of 'by taking this money you promise not to self deal'