Thus, they confer value upon the startup
Paul Graham is Still Asking to be Eaten
Holly Wood, PhD 🌹

I disagreed with this essay until you got me with this line.

This fact has bothered me as well. Access to capital adds so much value to a company because it buys press, eyeballs, etc. By convincing a “worthy” person that you, too, are worthy, you are suddenly granted so much more chance of success.

There are many worthy changes I’d like to see that simply don’t have an audience, and since I don’t have a ton of capital, my sense of ‘worthy’ isn’t relevant either.