Fried: Raising Venture Capital Eliminates Almost All Exit Options and Off-Ramps
Jason Fried · Jason Fried: Your Only Competition Is Your Costs · Feb 15, 2026 · at 1:54:48
Jason Fried, co-founder and CEO of 37signals, argues against taking venture capital, stating that outside funding traps founders in an all-or-nothing trajectory.
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“The moment they go raise money, they've cut off almost every option. They think they've expanded their experience and their opportunities, but they've cut off almost every possible off-ramp outcome because now they have to be in big business or they fail. That's it. That's one option. I mean, some people become very rich doing that, like if that's what they want to do, but most people blow right through what would have been a good business and is now not good enough for someone else.”
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