For the thesis of the arbitrage of innovation (venture capital) determines what innovation can be discovered (Einstein), and thus determines the fishing-net of innovation by which entrepreneurial ideas can be caught. Calling the arbitrage of innovation powerful is like crediting a referee in soccer for the outcome of the game.
I haven’t checked lately, but I have only seen SoftBank do large follow-on rounds, which makes them a follow-on investor based on another venture firm’s alignment of foresight. Most credit should go to the first money-in on innovation that positively prolongs the existence of humanity, hard to find when most venture capital today is subprime.
Post-chasm investing is really just a private equity risk profile and easy peasy, not powerful. But nice to have at least the later stages of a company’s runway not to be overly fragmented in endless collusion and risk diversification.