015 - OVER DILUTION IS NOT A GOOD ENOUGH REASON NOT TO TAKE MONEY

Over Dilution is not a good enough reason not to take money in a down. Okay, let's get real for a second. The last few years leading up to 2022 have been absolutely insane in the venture world. We've seen businesses trading at 20, 30, 40 times their revenue multiples, that's all come crashing back to earth.  SAS businesses are trading at five, maybe maximum 10 times their revenue, and lots of other businesses aren't getting funded whatsoever. So as a founder, your one job is to ensure that there is enough cash to keep the business going, and that is gonna mean that you may have to take, uh, capital in at valuations that you would not have anticipated.  You may have raised at high VA valuations back in 2021 and becoming back out to market today in 2023. Or you may be raising for the first time and thinking about how you're going to look at your cap table moving forward. The reality is that dilution can be fixed further down the track today. If you need to survive and you need capital, don't worry about the valuation.  Figure out a way to get as much money in today so that you can survive into tomorrow.