Sharing w/ good intentions, some feedback for @ycombinator & founders inside YC:
As batch sizes grow, I've found many VCs I co-invest w/ & share recs w/ assume rounds get done so fast, why bother mtg mid-batch - but I don't think founders fully realize the impact of this.
the amount of YC founders I know that hate (and are hated by) their cap tables is astounding. Fire fundraises suck for everyone
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I think at some point we just have to revert to the simple truth that: competitive processes were a useful mechanism to get better funds into deals, but have largely been perverted into footraises on mostly meaningless valuation (dilution, despite being rumors, does not matter)
End of conversation
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