Because it's who you know, rather than what you know, that drives the VC ecosystem for the most part.

They know that one day Adam Neumann is gonna sit on the other side of the table, and whoever is clearing the financing right now will take his turn in proposing his AI-crypto-{NEW TREND HERE} venture and get the money.

He's a made man, as the Mafia used to say. Once you're in the circle you can keep failing upwards.

One hopes the last 10 years have proven beyond any doubt that personal wealth & success are in no way correlated with skills or value to society.