Yeah, much less a working product. Tech vc is sprinkling money around hoping to grow magic. If you have revenue it probably isn’t speculative magic revenue.
Exactly, if you making money it suggests there is a market , that means there must be competitors....even though every unicorn start up ends up with many competitors...and if there are competitors it's not venture fundable..
when asked if there are competitors, regardless of what we answered, the answer was wrong. that again proves my point that all that matters is that investors know you, and that requires a lot of time, which becomes extremely expensive if you are in silicon valley, and only affordable if you are already rich or have a family that’s rich, and do not have to build a product.