It's actually pretty easy to calculate. Labor costs can account for up to 70% of total business costs so, out of $100, roughly $70mm is spent on salaries. The "one-third rule" for landlords to determine eligibility for rent means you can spend up to roughly 33% of your income on rent. So 33% out of $70mm is $23 million. You can say that 23% of every VC dollar goes towards landlords.