> But isn't that simply the nature of venture capital? Venture capital isn't a monolith. Investing in pre-seed, seed, or series A rounds are significantly dif

> But isn't that simply the nature of venture capital? Venture capital isn't a monolith. Investing in pre-seed, seed, or series A rounds are significantly different than coming in as an investor in a later round. For Softbank to whiff so badly on such late stage investments is drastically different than an early stage investor failing with a similar portfolio. The risk and uncertainty profiles are starkly different for the early stage and late stage investor.