Well its right there in Fred's article: > we have seen founders and CEOs get rejected by more than fifty investors during that process. He mentions 50 rejecti

Well its right there in Fred's article: > we have seen founders and CEOs get rejected by more than fifty investors during that process. He mentions 50 rejections as an outlier. He's not saying that's the norm, he's saying thats how bad it can get for companies in his portfolio that do raise money. Nor is he saying those are his best performers. In fact, he's saying they need to change their company to raise money. Which is to say, that they started out pitching a shitty deal and had to improve it: > As these expansion stage companies struggle to raise capital, they are forced into a cathartic (and at times painful) process of self reflection... And as a result, these companies are coming out of these hard raises with better businesses, better operating models (lower burn rates!!), and bigger visions to go execute against