It depends on how you define "successful". There are an awful lot of startups that are successful solely and completely on their ability to raise money. Every

It depends on how you define "successful". There are an awful lot of startups that are successful solely and completely on their ability to raise money. Every year there are double-digit startups who sell and the employees get nothing, because they raised too much money and couldn't sell the company for a number higher than the preference stack.