Yeah yeah yeah, I get it. But no. Raising money is one of the hardest things on the planet to do, right after 'building a great product and getting revenue'.

Yeah yeah yeah, I get it. But no. Raising money is one of the hardest things on the planet to do, right after 'building a great product and getting revenue'. And you don't get money 'just because you have a good product and company'. Let's not be naive about that - there is a lot of 'game' to raising money, and to have done that successfully is a huge 'win' for the founders. So sure, it's 'not a milestone', but really it is. The founders have to put so much energy into it, it's very risky, and since most companies absolutely must raise subsequent rounds after Angel ... it's a big milestone. You can have a decent company and not raise money. That's reality. So there's 'existential risk' in that part of the process. Sure, it's by no means an excuse to rest on one's laurels, or to think it equates to success is fine - but - to guffaw founders for exhibiting pride, excitement, and even a 'sense of accomplishment' for having done it is just unfair. Besides - the mere fact of raising money ups the companies cred quite a lot as well, which is very beneficial outside of simply the financial aspects.