https://techcrunch.com/2021/12/29/3-views-how-due-diligence-will-change-in-2022/

A few years ago, VCs were expected to perform extensive due diligence on startups. Investors dove into financials, called customers and vetted founders.

But power has now shifted toward the founders after a long run of investors holding more than half the power thanks to the commoditization of capital. The pace at which deals were done increased, and the time to reach what VCs love to call “conviction” fell sharply. This compressed diligence cycles, leading to less intrusive vetting.