Yes. The fact that people "celebrate" a funding event is really bass-ackwards when you think about it. It says that the company couldn't figure out how to gro

Yes. The fact that people "celebrate" a funding event is really bass-ackwards when you think about it. It says that the company couldn't figure out how to grow without bringing in a bunch of financiers, who have a low hit rate (3 go north, 3 go south, 4 turn into the living dead), who provided negative 10 yr returns even with Google in the portfolio, and who take 2-3% + 20% of exit from their own investors. Definitely an excuse to drink, but not for reasons of celebration.