Comment by WJW

They address this in the article, and I'd say it's rather the opposite of being oblivious. Rather, they understand that you can get way better deals by choosing the times when investors come crawling to you as opposed to times when you're short on cash and the investors know they have you over a barrel.

It's not required of the founder to sell the company cheaply to investors, even though the investors would of course quite like that.