That's an interesting distinction. I'm not sure enough information is available in most cases to tell. Without knowing the personal finances of the founders, it

That's an interesting distinction. I'm not sure enough information is available in most cases to tell. Without knowing the personal finances of the founders, it's hard to say if bootstrapping means they started with $0, $10k, $100k, $500k, $1m, or $10m in the bank. The implication is often that it's closer to the low end of that list, but people who start companies after doing something else for some years often have a substantial cash pile they can use to self-fund. Especially true when people bootstrap a 2nd company after exiting the first; then it can be closer to angel-investing in your own startup.