You need to look at it slightly differently. The founders aren't looking at the money they can make from the cash cow. Revenue is a long-term earner and require

You need to look at it slightly differently. The founders aren't looking at the money they can make from the cash cow. Revenue is a long-term earner and requires them to keep being successful for that long term. An exit (via a sale of the business) is the real short-term earner & lets them walk away (m/b)illionaires. Therefore the game is to optimise valuation - the higher the investment round, the higher the company valuation, and the higher the sale value. Simple as that.