Step-By-Step Fundraising Tactics from an NYC Founder Who Raised $750M

Given that this was published by a VC and that the writer has been on both sides of the table, I think you're misreading it.

How did you think they made sausage?

re: your last point, It's not just you. A few of us are feeling that way.

Know any alternatives? Otherwise we could band together and try to form an HN 2.0. It probably won't work, but it's worth attempting.

What's slimy about it? It's realistic

I mean, being rich is by far the most important factor for success followed by having rich friends.

This wasn’t a “how to build your network” article.

> Does it strike me odd that CEOs and founders complain about fund raising? That's one of the most important parts of their job.

> If people don't want to fundraise, the solution is simple: don't be a CEO or start a company.

That has to be heavily qualified, as it applies to a very small subset of CEOs and founders. Your last statement is radically off-base vs the reality of who starts most new companies in the US. The extreme majority, 99%, of all CEOs and founders in the US do not actively fund raise as part of their jobs. They have actual operating businesses that require their attention and pay for themselves with sales, or otherwise are bootstrapping on variations of self-funding. Few start-ups in the US are backed by venture capitalists or involve VC fund raising.

~500,000 new businesses are started every month in the US. ~400k-500k new employer businesses are started each year. Less than 1% of all of those businesses are backed by venture capitalists.

I think a lot of people hope that they can start an company by bootstrapping it. They hope they can start a company without selling. At least without selling themselves to VCs. I have this hope. In reality this hope in unrealistic, because capitalism requires capital. Very few businesses can realistically be bootstrapped. I think you are correct in your assessment that most of the people who’ve commented on this thread about not wanting to raise funds like this are unfit for reality. I myself wonder if I am fit for reality, and try to be realistic about the fact that I will need to raise money or risk jeopardizing what I’ve spent a long time working on. If you think finance and raising money like this are somehow beneath you, you’re unfit for this scene. This scene is all about selling yourself in the basest most vulgar ways to get capital so that you can engage in capitalism. ABC. Bootstrappers are the real unicorns.

As others have mentioned, your final statement has the implication you need to fundraise from a VC to start a company. I'd reframe it to being "your job as a CEO is to ensure you're adequately funded".

If that entails going to VCs, that's your job, If it's meeting bank managers for a standard loan, that's your job. If it's building or bootstrapping to gen revenue, that's your job.

I agree with your initial point though, this process (making sure there's cash in the bank to execute on the vision) is essentially part of the CEO's role, but most articles on the topic see it as being something different.

If you bootstrap it isn't really part of the job at all. You can still start a company and be CEO. Not every startup needs $750M and many would be worse off to have it.

Are you saying non males don't have confidence and can't fake it until they make it?

The wealthiest among all my investors (who are also self-made) never raised VC for their startups. All bootstrapped.

Too many founders pour their life into a project and end up making less than their investors do from the sale of their own company.

That said, if you can raise a lot for very little equity in a short time, it can be worth it.

Why?