[pwntifex]

As a self-funded startup looking to raise a small angel round without much traction yet, I am fairly sympathetic to this article. However, I still wouldn't go as far as calling investments in startups with traction, cash-flow, and coming from a good personal recommendation "low risk". Most of these startups will still fail.

I also don't think it's unreasonable for VCs and Angels to use these markers in determining whether or not to invest. There are still lots of deals available to VCs and Angels and these are some of the better filters to find the best ones. If there weren't enough deals available where startups could provide these metrics, the market would correct itself.

Lastly, while I do agree that the "pay" industry around how to run a startup doesn't provide much value, I don't see it as too much of a problem. There is a plethora of really valuable information available for free from successful entrepreneurs who give back to the community through their blog posts and talks. You'd have to be a fool to pay to learn how to run a startup when you can learn all the best advice (from people who have succeeded at it) for free.