We’ve all heard the story: Brilliant founder raises millions of dollars in venture capital and attains new heights of wealth and success. While this has been true in a few exceptional cases, I’m fascinated by how often this narrative is portrayed in today’s media. It has become commonplace in the tech industry for companies to be considered successful (or on a path to success) only if they have the validation of raising millions by venture capitalists.
That’s why, when I get asked, “When is the right time to take on VC funding?” my answer — “In a lot of cases, never” — is often met with surprise.
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