> I believe founders, investors, and the tech press should fundamentally change how they think about fundraising. This is wishful thinking. The concept of "fun

> I believe founders, investors, and the tech press should fundamentally change how they think about fundraising. This is wishful thinking. The concept of "fundraising rounds as milestones" is an externality of the VC game that no one can control (even YC for that matter). Tech press absolutely love fundraising numbers. It gets the most views. People in the "startup world" (especially in SV) socially need a proxy for how "serious" a business is, given that there are so many damn startups now. "Oh you work for a startup, great, best of luck...", "Ya and we're backed by YC and just raised our Series B"..eyes perk up. "very interesting...I might be able to help you". This is simply human nature.