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20VC: WTF Is Going On In Venture Capital; Seed Round Pricing Will Remain High, Series B & C Has Gone Completely, Downrounds Are Coming | Why Defensibility is BS on Day 1, Why Market is More Important Than Founder & Why Being First To Market Doesn't Matter
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Structure of Seed Rounds and Pre-Seed Rounds
We're not seeing that lead investors are absolutely necessary for a round to get close, especially the pre-seed and seed stage. The set of companies that could have raised on just a party round in terms of raising a little bit of capital and not hitting their target is gone. Time to raise a pre-seeding seed is definitely increasing. Also the time to markups is also increasing. If you're going to raise on 200x AR and now all of a sudden you're being told it's actually like maybe 20 or 10? That's brutal reality at that point.
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