It's an endorsement to take a ridiculous (or any) amount of funding based on the thought that more money == better! This is moronic. If you're building a business that requires 20mm in capital to build out an infrastructure, fine, but you damn well better have a business model and accurate profit projections to go along with that.
But, whatever. Go ahead. Follow the TC Way(tm). Take a shit load of money with no firm plan for spending it. Waste all your time trying to make good hires then hire managers to manage those hires and VPs to manage them. Give most of your company to a firm with deep pockets and far less knowledge of your industry than you have. Give up most of your stake in the company. Hope to Christ you do really well so your business doesn't get folded into another portfolio company so they don't have to count you as a loss. Answer to a board of directors when you want to change a font color.
The rest of us, we'll still be here, slowly growing our existing profits, spending nearly nothing, and making smart moves that grow our businesses without excessive cap expenditures. And later, if we need it, the money will be there. My Father told me something once that has stuck with me for many years. Essentially: "Don't worry so much about money. There will always be money and there will always be ways to make it, when you need it."