Ownership matters. If you end your startup journey with a $50 million exit and own 60% of the company, you make $30 million dollars. But if you have raised a ton of money and own just 5%, you need a $600 million exit to make that same $30 million. Much harder to get to.
For our Seed Capital series of podcasts, I’ve interviewed hundreds of investors, especially micro-VCs and angels who play an important role in the early-stage game. The toughest round of funding an entrepreneur will seek to raise is Pre-seed. How do you increase your odds? Pre-seed has the lowest probability of success. Over 99% of the