> What is a typical reason people don't want to raise money? Because it literally or at least de facto dilutes your stake in the company? Plenty of people star

> What is a typical reason people don't want to raise money? Because it literally or at least de facto dilutes your stake in the company? Plenty of people start enterprises so they won't be beholden to others (I did, and fortunately my service doesn't scale at all, so the company doesn't have to either). Any fundraising puts you, as you said, in the go-big-or-go-home rat race, and some people prefer more control over their own destiny than that, and seek sustainable levels of business from the beginning.