The way I look at it, all investors in the same round should pay the same value, but that's not neccesarily in just dollars. If one firm has a lot of added valu

The way I look at it, all investors in the same round should pay the same value, but that's not neccesarily in just dollars. If one firm has a lot of added value and another is dumb money, why should they get the same price? If you look at it another way, if they are the same firms offering the same deals (at different prices) but instead of joining together in a round, they are competing, surely you would recognise the added value. Why not in a joint round?