Fundraising

Peter Thiel on the importance of pitching your startup as a “discount to the future” Most founders will pitch their startup valuation as a sort of premium on the last round (e.g. “Our valuation last year was X, we’ve made Y progress, and now we deserve a valuation 2x greater.”) But Thiel... See more

A startup in the summer YC batch got offered funding at a 60m valuation. I didn't ask if this was pre or post. They turned it down, wisely I think, because a valuation like that creates a significant danger of a down round later.