> I know three Series A corps with a 10+ year runway Outliers, by definition, are generally not a good example of a population. Investors are not interested in

> I know three Series A corps with a 10+ year runway Outliers, by definition, are generally not a good example of a population. Investors are not interested in you sitting on their money, and they will push you to spend faster. There are always outliers, but the average/median time between fundraising rounds for most start-ups is 18-20 months with average/median Series A raise of $10M/$20M. > for whatever they need to get the job done. Spending money is a gamble, you have no idea if what you're spending it on is going to work. Most start-ups - and businesses in general - fail. Even the ones where the CEO spent the money to get the job done. And if somehow a founding team has managed to turn a Series A into 10+ years of runway, it's either because burn was low or they found a profitable business model and stopped being a start-up. My gut tells me most fall into the later category.