As I said, my example didn't necessarily apply to your company. But just in the last few days I have read about 4 different startups returning capital to investors. Investors seem to be aggressively seeking the return of capital, which takes the "risk" out of "risk capital". Decreased risk should also mean decreased rewards.

If you chose to do it of your own volition, then that's a personal decision (though one I don't recommend because your investors made a calculated wager on you...sometimes wagers lose, and that's the nature of the game they have chosen to play). But if you were asked or pressured into it, they shouldn't have done that, and by doing it voluntarily, you are teaching those investors to expect it of others.