seed

“Company wants to raise a seed, wants to raise an A, isn't really there, and they could probably figure it out with a handful of conversations, but they decide to press the gas on it, they have like, 50 conversations, end up with nothing, and the problem is, an…”

“You know, about half of that 170 is seed or pre-seed. So at that point, you're basically just hiring the team, mostly.”

“And I think also in founder world, very few founders are able to move between being a great founder at seed and a great founder at series B and C. And maybe this is also sometimes why companies fail.”

“Yeah, I think the, there was one company that tried a little bit called Seed that was doing kind of SMB banking, but at that point that kind of faltered but yeah, nothing at scale for sure.”

“So in recent quarters, call it 20, in 20, 22, for instance, that same percentage of companies that got from C to A in two years or less was more like 15%. So from 40 to 15. Big, big, big, big drop.”

“Yeah, median C would have been more like six or seven. Median A would have been more like 25.”