This is highly misleading on a key proof: Microsoft was never venture backed in the common meaning. They did accept VC investment from David F. Marquardt to get

This is highly misleading on a key proof: Microsoft was never venture backed in the common meaning. They did accept VC investment from David F. Marquardt to get him as an advisor while they restructured to go public. His firm owned 6% and was never a major investor. Microsoft was profitable pretty much from the start and didn’t need the money.