> most non-VC late stage rounds are done by the like of investment banks or private equity firms who have a reasonable idea of what they're doing. They know ex

> most non-VC late stage rounds are done by the like of investment banks or private equity firms who have a reasonable idea of what they're doing. They know exactly what they're doing, but their customers don't necessarily. Investment Banks are more than happy to buy and flip overvalued assets to suckers provided they don't have to hold on to them for too long (c.f. 2007.)