Part of the reason there’s so much backlash against VC funding is that when you end up driving your business into a wall at 100mph, it’s easier to say “I shouldn’t have raised that money” than it is to admit “I shouldn’t have spent that money.”
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If the monthly MIS that goes out doesn't reflect hyper growth, investors do come bearing down. To stave them off, founders end up spending on marketing to chase hyper growth. Hence VC may not ask founders to directly spend, but outcome of insane growth expectations is spending.
