You don't say it explicitly, but there's a bit of a garden-of-eden in this story: Founders were running this great wonderful profitable business and then those

You don't say it explicitly, but there's a bit of a garden-of-eden in this story: Founders were running this great wonderful profitable business and then those darn VCs come in and ruin everything. A founder isn't forced to take on investors. The same founders who were so "down to earth" and profitable are the ones making the decision to take on investors. The founders can't be responsible for profits and then suddenly get taken advantage of by investors. Everyone involved is eyes-wide-open. Lots of great businesses have been built, in partnership with investors, during higher interest rate periods and downturns.