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Venture Capital Isn’t Funding. It’s a Specific Type of Fuel.
VCs aren’t in the business of helping you build a great company. They’re in the business of returning money to their LPs. Once you understand the difference, everything changes.
Every week, I see a version of the same post in startup communities:
“Just got rejected by another VC. They said our $2M ARR SaaS with 40% margins ‘isn’t a fit.’ What am I doing wrong?”
The comments flood in with sympathy and speculation. “Their loss!” “Keep grinding!” “VCs don’t understand your vision!”
But here’s the uncomfortable truth: that founder isn’t doing anything wrong. They’re just playing the wrong game.
They’ve built a wonderful, profitable, sustainable business. The problem is that venture capitalists aren’t looking for wonderful businesses. They’re looking for lottery tickets. And until founders understand why, they’ll keep making catastrophic strategic mistakes.
Let me explain the game you’re actually playing.
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