Completely agree with this. In fact, I'd say it is the same for a lot of massively overvauled "silicon valley" startups, which actually get little to no funding from the silicon valley ecosystem. A lot of these companies get a fancy-sounding HQ address, hire some engineers from established companies, then go attract investors from other, more traditional industries or foreign countries by selling themselves as the next big tech startup. Theranos is a very famous example of this as well. The company was a joke in the normal SV investment circles since day 1.