One: It's really the model. There are almost 200 years of data on VC in the US. That's the model, I promise. Two: It's not as simple as just throwing money at

One: It's really the model. There are almost 200 years of data on VC in the US. That's the model, I promise. Two: It's not as simple as just throwing money at a bunch of random things and hoping one sticks. They work hard to invest in companies they think will make large returns, knowing that despite their best efforts a large portion likely won't. This is intuitively understood. But this more nuanced understanding leads to the conclusion that "[w]e have $375M from SoftBank" is meaningful because they're a successful entity in that space, with subject matter experts, and if they invest in you it indicates you're doing something right.