IMHO, for professional investors, the "significant progress* is judged by traction as I described. Then, for a Web site startup, traction means users and ad re

IMHO, for professional investors, the "significant progress* is judged by traction as I described. Then, for a Web site startup, traction means users and ad revenue, and quickly a sole founder is nicely profitable with cash enough for organic growth and no equity funding needed.