You are obviously right. As per mkramlich definition the startup is currently living off us (given only founders have invested in the corp) and we will live off

You are obviously right. As per mkramlich definition the startup is currently living off us (given only founders have invested in the corp) and we will live off non founder investors before being in the black. I initially hesitated to reply but as the original post did not differentiate between type of investor I assumed it would be acceptable. I stand corrected.