Also, seems that founders tend to prefer dealing with a small number of people with deeper pockets, for future raises. Plus they seek “expertise” or connections in addition to just the big-bucks. Otherwise they would opt for crowdfunding.

Do wish we’d see more bootstrapped firms in the world.

Some of my favourite years were spent in a company with 5 employees competing with unprofitable behemoths with 100-1000x more staff.