tl;dr Investors/institutions who turned around term sheets in a matter of days waived due diligence during frothy times, or those that benefitted from this sort

tl;dr Investors/institutions who turned around term sheets in a matter of days waived due diligence during frothy times, or those that benefitted from this sort of behavior, now want their money back. Edit: To make it more balanced: Also, those that were showered with praise, money and prestige as the CEO of a darling company feel entitled to the value their 2020 projections promised and decided to prop up themselves or their company (or both) rather than face humility