The raise itself is the most important to any company that does not have an ability to meet its objectives without raising. The culture of financing determines

The raise itself is the most important to any company that does not have an ability to meet its objectives without raising. The culture of financing determines what startups are possible. (i.e. the culture of financing divides the "set of startups that require a raise to execute their ambitions" into the group 'possible' and 'not possible'.) Just imagine how different the world would be under the scenario I outlined, in which this sorting does not occur.