Not really. Funding comes in stages. No VC with a billion dollars in their pocket is making one bet. But for folks with a lot of money to put in this is not

Not really. Funding comes in stages. No VC with a billion dollars in their pocket is making one bet. But for folks with a lot of money to put in this is not unusual for lifecycle. Look at the actual amounts raised through multiple rounds by - not just the initial seed investment the time they IPOd by any big tech name of the last decade or two: Google, Cisco, Facebook... hell look how much Groupon burned through. The idea that you cannot raise a billion dollars if you can deliver a return on it greater than capital markets would otherwise provide is nonsense.