Alternative view: this is a pre-pre-seed and fills a much needed gap in the VC ecosystem. Well-connected founders raise very early money from "friends and famil

Alternative view: this is a pre-pre-seed and fills a much needed gap in the VC ecosystem. Well-connected founders raise very early money from "friends and family". Most people don't have wealthy friends and family, so getting the first money in to kickstart the venture is difficult.