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The feeling I get is that founders aren't looking to the long-term anymore, either because they aren't confident of their ability to make it on their own or they're only working toward an acquisition. I assume the latter is the dominant mentality in undergrad/MBA/GSB subcultures. Cowardice vs. greed, I suppose.

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There’s a third reason here. With the current size of a round a founder can become very wealthy by converting personal shares (ie cashing out) in each round. They can literally get F-you money regardless of the company’s outcome.

Look at Clubhouse. It reached Unicorn status while still at, essentially, Alpha. It would be silly for the founders not to take $20M home during those rounds right?

Are you suggesting that our universities are teaching short-term thinking cowardice and greed? Or is it just certain programs? For a while I thought it was "STEM" programs that alluded most to easy-money themes in academia, with business schools teaching more of the long view and social responsibility of financing then managing a business.

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