VCs in one hand have successful companies (that generally IPOs), and losers on the other hand. They can use their influence on the people who having voting rig

VCs in one hand have successful companies (that generally IPOs), and losers on the other hand. They can use their influence on the people who having voting rights, to actually push the hot-potato to public investors. That's one big reason why you public companies purchasing somewhat useless companies, or acquihiring them at insane valuation.