Sure, this is relatively dumb money, but that's where those angel and incubator relationships come in: if startups increasingly feel they have the relationships and advice they need, then growth funding is basically a commodity, so why not take
dumb cheap money sooner rather than later?
And to the degree that you are a smart manager, you can lessen your dependence on the big guys, and work with the hungry second tier, who know that
money can be made by implementing the ideas of smart investors, so find ways to buy
cheap bonds for smart investors from
dumb investors, and sell rich bonds from smart investors to
dumb investors.