That's some impressive condescension from somebody who does not know how VCs work. They are not obligated to take the initial investment, they are not obliged

That's some impressive condescension from somebody who does not know how VCs work. They are not obligated to take the initial investment, they are not obliged to make a capital call, and they are not obligated to just spend the money they do take. They choose to make poorer and poorer decisions because it's in their short-term financial interest to do so.