Most people don’t understand VC funding When you raise $100M, it doesn’t go into the founder’s pocket It goes to the company, and whenever the company is sold, investors get paid first - in full. Sell for $10M? Investors get the full $10M Sell for $100M? Investors get the full $100M VC money is a lot like debt. First money in, first money out I’d go even further and tell you to block anyone who confuses a fundraise amount with a fundraise valuation, or an oversubscription with a raise amount… But even understanding a liquidation preference puts you in the top 10% of people who get startups(foobar/)