I've worked in VC backed startups, and been to expensive dinners with the VCs too. They're morons. They got lucky on some business that happened to blow up at just the right time, or are the children of the guy that happened to, and think they that therefore are financial and business geniuses. In reality, they can't even follow simple conversations about details of the product they are supposed to be making while demanding infinite exponential growth forever, starting tomorrow.