Authors:

If the investors themselves are not sophisticated, if they themselves are not putting a lot of their own money to work, if they themselves don't understand the continuum of capital and how different parts of the capital structures react differently, then they're basically worthless. They're not going to give great advice to these entrepreneurs who then need it. So that is unfortunately the cycle we're in and we have to break the cycle.

Source: www.businessinsider.com
If the investors themselves are not sophisticated, if they themselves are not putting a lot of their own money to work, if they themselves don't understand the continuum of capital and how different parts of the capital