[ghaff]

Note that almost 90% didn't raise funding at all. And of those who did raise, 70% raised less than $500K. About 70% also had 4 or fewer employees including themselves. In other words, these are mostly pretty small operations.

Look at the hours worked as well. 80% work less than 50 hours a week. And the businesses are very geographically dispersed. Net Net. These are not anything like typical SV startups.

[einarvollset]

Only 58% of tech companies that IPO’ed between 1980 and 2016 received VC funding, so I’m not so sure I’d be quite so dead certain of that.