Harry Stebbings on Series A

1011 days apart Reversed

Stebbings previously called Series A the best risk-to-reward entry point, but later declared it the worst place to invest due to high valuations.

THEN · Oct 20, 2023

0:00 / 0:05exact quote · 5.1s

NOW · Jul 27, 2026

0:00 / 0:18exact quote · 18.8s

“I think Series A is actually the best risk to reward insertion point in venture stay.”

Oct 20, 2023 · 20VC: NEW FORMAT: Harry Stebbings on Why Seed Pricing is as High as Ever, Why Series A is the Best Place to Invest Today, Why Growth Founders Need to Reshape Expectations, Why M&A Windows Remain Shut and When Will IPO Windows Crack Open full source →

“I think Series A is the worst place to be today, and my partners always hate me for this, because all Series A founders are like, great, we won't go and see them, uh, but it's the worst place to be. You have, like, one to three million in revenue, and you're at 200 X ARR, two to four hundred million, with little PMF.”

Jul 27, 2026 · Will Open-Source Threaten Anthropic's Business & Do Margins Matter in a World of AI | Matt Murphy full source →

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Harry Stebbings on Series A

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