From what I understand, this is an example of why tranched VC investments are bad. (See: http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-investments/

From what I understand, this is an example of why tranched VC investments are bad. (See: http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-investments/ http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-in...) It's not an investment until the money is in the bank.