I agree with most of what you wrote, but I will say that people outside of the scene might not realize how common it is for founders to raise a couple million i

I agree with most of what you wrote, but I will say that people outside of the scene might not realize how common it is for founders to raise a couple million in seed funding, then pay themselves a market salary (I've seen as high as $350K for a CEO of a ~10 person company), removing most of the downside. I'm not saying this is advisable, but it's common.