Could be.

I do wonder what the professional relationships type situation is with the network.

I suspect someone at Sequoia can call some buddy at another place if he has a question and get some good information "No man that dude is bonkers / reckless." that might save them a lot of time. Same goes the other way.

Not sure how much good info I get calling up Sequoia "Hey man I got a $1b ... what do you know about...."