Most investors will view this as a factor among many when deciding whether to invest. Sometimes that factor will be a negative, sometimes a positive, sometimes neutral -- depending on the circumstances. It definitely does give them something to think about and to be concerned about; but doesn't mean investors won't invest.

What will a VC care about when analyzing this factor? The best explanation of what the VC will consider is probably similar to what a couple-team should be considering before forming a startup.