That is exactly right. I'm trying to get a complete guide to fundraising done in time for Demo Day, so I don't have to repeat all this stuff verbally (and incompletely) yet again. There is at least one more coming on fundraising tactics.

Thanks for sharing this with all of us outside the YC world! I've really appreciated the shower of wisdom in your recent burst of essays, and I'm sure others appreciate it too.

Would love to see some info about the difference in strategy for raising in a toxic industry/vertical.