[mgkimsal]

Years ago I pitched a VC with a working prototype and biz plan - actually was looking more for angel-level money (perhaps) - somewhere between $300-$500k, and I was projecting revenue (which would be mostly profits) of $5m/year within 4 years (aggressive growth by my estimation, but doable). No dice - they wanted to see numbers north of $20m/year for sizable exit before they'd be willing to put in.. $500k. Those numbers always struck me as insane, but have stuck with me (this was... 15 years ago perhaps now).

[tptacek]

It's understandable why this would irritate you but worth remembering that the VC economics don't work out for reasonable-sized successes. The wins have to pay for the losses, and the win rate is something like 2 in 10.

[velodrome]

Did you go through with the business? If so, did you end up reaching your goal?

[mgkimsal]

No, ended up scrapping it. Not just because of that, but it was a small factor.