Billionaire Gabe Newell: pitching VCs makes no business sense

Definitely makes a lot less economic sense today. Takes easily months of full time work to raise from investors. That level of effort in the early days of a startup could put mean practically putting your pre-MVP/MVP on hold for months.

This is why I always believed that VCs and accelerators that mislead startups about how early they are willing to invest are doing a lot of damage to gullible founders.