[not_that_noob]

The sad truth is that most investors will invest their time in their most successful companies. Meaning that if you're one of the weaker ones, you're unlikely to get the time you need. And if you're hot, well, you don't need the investor's help anyways. So these promises have a way of not being fulfilled.

Also - if the value of investor A's advice is better than that of investor B, then the entrepreneur would be willing to take a discount on A's term sheet relative to B. Thus, the market is saying the delta is minimal, because entrepreneurs are optimizing for price.