This is the most comprehensive, thoughtful, and informative guide to raising capital I've ever seen. It's exactly the context I wish I had when I started my first company 15 years ago... and my second one too. Every accelerator, mentor, resource out there teaches you how to pitch but it's all performative (I blame Guy Kawasaki!!). I've been there, and that kind of "technique" is basic and doesn't work.

I'm an avid bootstrapper, so nobody is pushing me to think bigger or asking the hard questions about where we're headed. That's my job, and it's easy to get comfortable with where things are. Understanding how investors evaluate deals gives me that reality check. Sophisticated investors think about long term value creation in a way that I have to be intentional about because I don't have that external pressure. Reading this forces me to step back and ask myself... am I making the right decisions? Am I looking at this business the way I should be?

I don't have to return VC capital, but my goal is to maximize return for myself, my cofounder, and my team. Every founder should read this, even if they're not raising.