Why VC’s don’t care about your business (or how to understand VC’s required return math and what it means for your startup)

In frank conversations with my founder friends, entrepreneurs, and even just the startup-curious, I often hear questions along the same general theme:

  • My company is growing well, why aren’t any VC’s interested?
  • VC’s keep telling me this is a “lifestyle” business, what the hell is that?

There are also a bunch of darker things I hear (and dark tales of VC’s of yore that I’m…