As the article states, general advice won't apply to every situation, but I'd advise any startup that generates revenue to consider that their last round of fun

As the article states, general advice won't apply to every situation, but I'd advise any startup that generates revenue to consider that their last round of funding is going to be their last. The startups that don't generate any revenue or very little revenue and have a exit strategy that requires them to be acquired or to get critical mass in order to exploit network effects are the exceptions. It's great to fund growth by burning money, but once the company reaches a respectable size I'd make a plan for how to reach profitability and update it periodically. That plan might be as simple as ceasing all hiring for a year while the revenues grow enough to overtake costs.