The recognition-driven founder is vulnerable to manipulation and eventually to losing the company. In the past that could come from over-raising, over spending

The recognition-driven founder is vulnerable to manipulation and eventually to losing the company. In the past that could come from over-raising, over spending (size of raise and number of people and press feeds the desire for recognition), VCs then have a blank check to change the leader at first signs of struggle etc. The healthier approach to this would focus on the customers and making the business successful with or without funding. PMF without funding is glorious and reason to go for funding at a much better valuation, or to wait out for better market environment. The people who need to care are you customers. Everyone else doesn’t matter. Especially when the moment you start advertising that you’ve raised money is the moment you wave a juicy steak at the face of your competitors and asking for them to come after your market.