I would wager most of the startup world is like this. VCs can be exploited. Yes, 99% (or whatever) of startups fail, but a good number of them were never intend

I would wager most of the startup world is like this. VCs can be exploited. Yes, 99% (or whatever) of startups fail, but a good number of them were never intending to "succeed". It was always just about getting a paycheck for the founder. If you ever go to a seed stage VC info session (such as Antler's), you will see that the vast majority of attendees are just unemployed people looking for a job.