at 0% interest rates a lot of dumb investment ideas that could eventually earn money become surprisingly practical as long as the pitch that the firm could even

at 0% interest rates a lot of dumb investment ideas that could eventually earn money become surprisingly practical as long as the pitch that the firm could eventually become net profitable is even remotely viable. 0% interest effectively means there is no time cost to money - As a large LP you could probably hold open a money burning position in a firm for decades as long as each year it looked like you would turn a profit within N years (conveniently far enough away that its beyond the funds horizon). At 5% interest N years gets a lot closer.