It probably goes something like this:<p>&quot;We thought it was worth more, and it may well be in the future. But if it&#x27;s not, that&#x27;s OK, that&#x27;s why we have a portfolio of 150 companies; some will lose money. We plan on that happening to x% of our companies, and on average we&#x27;re still lanning on seeing a #x return on the capital you invested.&quot;<p>In other words, this is absolutely an expected part of VC, even at the late stages.