It is the same "VC math" which drives a VC to seek to deploy a larger amount of capital into a company. (Often taking a capital efficient company and helping it become capital inefficient). And it is the same math which sometimes creates a lack of alignment between a founder and a VC around exit opportunities. I have previously written these issues when I discussed the "unwritten terms on a term sheet".
A company's outcome should drive VC returns. When VC's required returns drive company's outcomes, it's a recipe for trouble.
Ahh, the downsides of raising VC.
