[takinola]

This is a pretty good illustration of the impact of raising capital. Building a company making $50M arr is really difficult and requires skill, hardwork and a lot of things breaking right for you. While it seems he got a good exit, it seems much less than the wild payout one might have thought would be the case in a scenario like this. Capital isn't free. If you raise money, you should understand the implications for what you have to deliver in order to have meaningful outcomes.

[cyrusshepard]

Right. And his new, non-venture capital model for raising money for his next company seemed to work pretty well: https://sparktoro.com/blog/raised-a-very-unusual-round-of-fu...