I thought this was the order:
1. Seed - delight hundreds of people and pull in thousands a month. Demonstrate your idea is viable in the niche.
2. Series A - delight thousands to a million people. Demonstrate you can take that idea beyond the niche.
But there's a couple of capital intensive plays that have distorted the system like Magic Leap. For those plays, it seems like the main customers are VCs, not actual users.
I thought this was the order: 1. Seed - delight hundreds of people and pull in thousands a month. Demonstrate your idea is viable in the niche.
2. Series A - delight thousands to a million people. Demonstrate you can take that idea beyond the niche.
But there's a couple of capital intensive plays that have distorted the system like Magic Leap. For those plays, it seems like the main customers are VCs, not actual users.