[sk5t]

> If a founder took the money from a round and put half of it in a pile on a beach and set it on fire, it literally shouldn't matter to an investor because the investor now owns something better than cash, which is equity in something that is growing.

Come on now, do you really believe this? Investors absolutely should be extremely upset if the company is squandering the resources it purportedly requires in order to execute on strategy and grow.

[motohagiography]

I'm saying you as an investor don't know which half is being squandered, and if the company has non-linear growth, you aren't going to care. You only notice waste when you aren't getting value, and if you're getting growth, you aren't going to notice the waste. See: WeWork